What does this measure?
Unemployed individuals are those without jobs who are able, available and actively seeking work. The unemployment rate is the number of unemployed people as a percentage of the total labor force (the total number of employed and unemployed individuals 16 or older and not living in prisons, mental hospitals or nursing homes).
Why is this important?
Unemployment rates are a relatively timely indicator of current local economic conditions, particularly recent changes in the employment landscape that reflect the overall health of the economy.
How are Cayuga and Seneca counties performing?
In 2010, Cayuga and Seneca counties had unemployment rates of 8.3% and 7.9%, respectively. Both are similar to the 7.9% rate for the state (excluding NYC), but lower than the national rate of 9.6%. In 2008, both counties had a 5.5% unemployment rate which rose to 8.4% in Cayuga and 7.8% in Seneca in 2009, following the economic downturn. Comparison counties had similar rates and trends of unemployment, with the exception of Oswego County, which consistently recorded higher unemployment throughout the past decade and reported a 10.5% unemployment rate in 2010.
Notes about the data
The unemployment rate represents only those who are actively seeking employment and does not account for under–employment or discouraged workers who have stopped looking for jobs. Also, county–level estimates are based on relatively small samples, and the true number of unemployed residents may therefore vary considerably from the estimate. The rates reported here are averages of monthly rates.