Report Shows Shrinking Labor Force in Upstate; More Business Friendly Policies Needed
Unemployment rates are often viewed as an indicator of how the economy is doing. While these rates provide valuable insight on economic activity, because of how the unemployment rates are calculated, they should not be the sole assessment in determining the health of the economy. The current unemployment rate in New York State is 4.9%. From a statewide perspective, this is good because it shows a measure of economic growth since the recession when the rate was almost 9%.