Relatively Speaking, Broome/Tioga Unemployment Not So Bad
Broome County, like every other community in New York and across the nation, is taking a hit to the job market. The New York State Department of Labor, however, reports joblessness for the Binghamton Job Market posted an unemployment rate last month of 10.6%.
While that’s about double what the rate was prior to the outbreak of the coronavirus pandemic, it comes in as the third lowest for metro regions in New York State.
Broome County Executive Jason Garnar has said he hopes, as the region continues to reopen after the total shutdown to curb the spread of COVID-19, those unemployment numbers will continue to come down.
Analysts say, however, a complete return to pre-pandemic trends may not be possible given the number of businesses that are just not able to recover and have been forced into bankruptcy or to close.
New York State’s average unemployment rate in May was 14.5%.