Last May, the Capital Region’s unemployment rate dropped below 4 percent, ending its third longest steak above that level since 1990 (23 months). Often referred to as a threshold, either psychological or arbitrary, the sub-4 percent rate signals economic strength. However, issues remain about sustainability. Although the region has taken
The Capital Region’s annual job growth was on par with its 10 peer economic regions in 2017. Although the peer regions had lower unemployment rates than the Capital Region, they are also dealing with more austere labor force shortages and greater wage inflation, according to a Center for Economic Growth
The talent pipeline for the Capital Region’s technology sector continued to expand in 2017, with traditional colleges and universities throughout the eight counties seeing a 10.3 percent year-over-year increase in STEM degrees awarded, according to a Center for Economic Growth Analysis of new data from the Integrated Postsecondary Education Database
Employment in the Capital Region’s manufacturing sector last year climbed to its highest level since 2001. In 2017, the eight-county region’s manufacturers drove a 1.6 percent annual net jobs gain to an annual average of 34,322. Employment was up 7.6 percent from five years earlier, according to a Center for
The area’s homeownership rate last year rose for the first time since 2010. The uptick in this rate may provide clues to the area’s coinciding increase in its unemployment rate for the first time in six years, though economists remain divided over whether there is not only correlative but also
Media Contact James Schlett Center for Economic Growth Director of Research and Communications 518-465-8975 X221 | jamess@ceg.org CEG, partners are bridging the skills gap as Capital Region manufacturing employment reaches 16-year high ALBANY, NEW YORK – As employment in the Capital Region’s manufacturing sector climbs to a 16-year high, KeyBank
Women working full-time in the Albany-Schenectady-Troy metropolitan statistical area (MSA) face the smallest pay gap in upstate New York and the fourth smallest in the Northeast. Even more, those working in the local management, utilities and manufacturing sectors are closest to earning as much – if not more – than
CEG intensifies efforts to boost employment by tapping talent from inside and outside the region The Capital Region in 2017 reclaimed its standing as having the lowest unemployment rate in New York, tying the Long Island region. At 4.4 percent, the eight-county region’s unemployment rate was its ninth lowest in
With both the regional and national economies running at full employment and intensifying the competition for talent, the Center for Economic Growth (CEG) is aggressively expanding its efforts to attract highly skilled workers to the Capital Region. This year CEG’s Talent Connect program is quintupling the number of career fairs
PR Newswire Program awards grants across Upstate New York to help economic development organizations connect with small businesses in underrepresented communities ALBANY, N.Y., May 11, 2018 /PRNewswire/ — Today, the KeyBank Business Boost & Build program, powered by JumpStart, awarded $110,000 to the Center for Economic Growth (CEG) in collaboration with
