Department of Economics
  at Ithaca College

The number of jobs in Tompkins County increased by 400 in September to 62,000. As expected, job creation has been sluggish in 2007. The education and health industries are adding a modest amount of employees while other sectors are giving them up. There are 200 more jobs in the County this September than last. In a good year, Tompkins County would create 1,000 new jobs. The unemployment rate was 3.3 percent, compared to 3.2 percent last year. In New York State the unemployment rate was 4.4 percent and 4.5 percent nationally.

Retail sales fizzled 6.59 percent in September when County retailers rang up $123.8 million. That is 4.3 percent better than September 2006 when retail sales amounted to $118.7 million. However, 2.8 percent of that is inflation.

Air traffic was a ray of sunshine in September. The number of passengers arriving and departing from Ithaca Tompkins Regional Airport climbed 16.59 percent to 17,061. Compared to September 2006 air traffic is up 15.08 percent.

Residential building permits issued in the Ithaca metropolitan statistical area declined 25.11 percent in September. Permits have a tendency to swing widely from month to month and a change of this amount is not unusual. On a year-to-year basis, building permits are up 28.25 percent.

Across the country, the real estate bust was much in evidence as home sales shrank 8 percent in from August to September and 19 percent from September 2006. The national median sales price fell 4 percent. Here in Tompkins County, existing home sales dipped 13.07 percent in September and 31.05 percent compared to September 2006. The median price depreciated to $152,500 from $164,500 in September 2006, or 7.3 percent.

Help wanted advertising inched ahead 1.01 percent in September. Help wanted advertising is an indication of the demand for workers.

Maintained by Elia Kacapyr (kacapyr@ithaca.edu)
Last updated 10/26/07