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February 06, 2012
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Wills & Trusts News

 

Almost no Upstate job growth for 2005


Upstate New York barely produced any net new jobs in 2005, the state Labor Department reported with release of revised figures for the end of the year. Upstate's private-sector employment rose 0.2 percent, while the downstate region added jobs at a pace of 1.3 percent, and the nation's employment rose 1.7 percent.

The statewide private-sector job growth of 0.9 percent was just more than half the nation's growth rate. Matching the national pace would have given New York another 55,000 jobs.

We give the state Labor Department full credit for including the New York-national comparison in the first paragraph of its press release. We wish every news report on the subject included similar details. Instead, news stories often focus on the unemployment rate. That's a less useful indicator than the growth in jobs. When people move elsewhere in search of opportunity, the unemployment rate improves even though the state's economic vitality diminishes.

Three Upstate regions (Binghamton, Buffalo-Niagara Falls and Elmira) lost jobs during 2005, the Labor Department reported. The Southern Tier was hit especially hard. Kingston, Rochester and Utica saw no growth, but no net losses either. The state's Capital Region, Syracuse, Glens Falls and Ithaca all are doing well enough that local leaders say they're doing well. But their 2005 growth rates barely surpassed half the national job pace.

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Demand

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The total quantity of goods and services consumers are willing and able to buy at all possible prices during some time period.

Dow Jones Industrial Average

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A stock price index, based on 30 prominent stocks, that is a commonly used indicator of general trends in the prices of stocks and bonds in the United States.

Unfair labor practice strike

Definition:
Employees who take part in an unfair labor practice strike retain their status as employees. Once the NLRB determines an employer's actions to be an unfair labor practice, employees are entitled to have their old jobs back, even if their employer has hire

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Massachusetts Wills & Trusts Attorney

 
If you live in the following cities and need a Wills & Trusts Attorney you should contact our Wills & Trusts Attorneys as soon as possible:

  • Amherst
  • Attleboro
  • Beverly
  • Boston
  • Brighton
  • Brockton
  • Chelsea
  • Everett
  • Fitchburg
  • Framingham
  • Holyoke
  • Lawrence
  • Leominster
  • Lynn
  • Malden
  • Marlborough
  • Medford
  • Methuen
  • New Bedford
  • Peabody
  • Pittsfield
  • Plymouth
  • Quincy
  • Revere
  • Salem
  • Taunton
  • Westfield
  • Woburn
 


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