County unemployment drops to 4.7 percent
Cortland County’s unemployment rate for October hit its lowest mark for that month since 2007, but fewer people are working, according to figures from the state Department of Labor.
The jobless rate for October was 4.7 percent.
There were 22,600 people working in the county last month, according to the report, 100 fewer than were working here in October of last year.
Department of Labor economist Christian Harris said Wednesday the unemployment rate in Cortland County is at an eight-year low. Data at the federal Bureau of Labor Statistics has the unemployment rate for Cortland County in October 2007 at 4.1 percent.
The unemployment rate in Cortland County is lower than the statewide unemployment rate of 4.8 percent, but higher than the national unemployment rate of 4.5 percent.
The number of people looking for work fell slightly under 0.1 percent in October to 1,100 when compared to the 1,200 at that time last year.
Harris said while less than ideal, he attributed the lower number of people holding jobs to the area struggling to recover from the 2008 recession and not necessarily indicative of a trend residents should worry about.
“Even though we’re down 200 or 300 jobs, that’s not huge for the area,” he said. “There isn’t any one big culprit. Even 50 jobs could swing that more into the positive direction. Obviously, we want to see more growth and a whole lot of it.”