The unemployment rate fell in Oswego County in July, but not because more people found jobs.
The jobless rate fell from 10.2% in June to 9.5% in July.
The rate remains very high — the third highest in the state outside of New York City.
From June to July, the number of people listed as employed stayed exactly the same at 55,500 while the number of people listed as unemployed fell by 500, to 5,800.
The unemployment rate measures those who are employed and those who are unemployed but are looking for work. The rate does not measure those who are underemployed — working part-time but needing full-time — and does not measure those who have given uip looking for work. Because there was no corresponding rise in employment, the drop in the number of jobless indicates that more people became underemployed or quit searching for a job.
Statewide, joblessness fell a tenth of a point to 8.6%. Job gains Upstate offset a rise in unemployment in New York City.
“This month’s large increase in nonfarm jobs was due in part to federal stimulus spending. Stimulus-funded projects helped boost employment in the construction sector. In addition, there was a much larger-than-normal increase in government-funded summer youth hiring this year. In past years, public funds typically provided for about 25,000 summer youth jobs. This year with the addition of federal stimulus funds, a total of approximately 60,000 youth were placed in jobs this summer,” said Peter A. Neenan, Ph.D., Director of the Division of Research and Statistics.