Unemployment in Central New York is significantly lower now than it was a year ago.
Figures from the New York State Department of Labor show that July's unemployment rate in the Syracuse region was 6.4 percent, compared to 7.5 percent a year ago. Area unemployment continues a downward trend over the last several months. Additionally, the area's current unemployment rate is lower than the state's 6.4 percent and the nation's 6.5 percent.
Further analysis of CNY's unemployment rate reveals that it's largely because of a decrease in the number of people who are working. Labor figures show there are 4,300 fewer unemployed here than a year ago, but also 7,400 fewer people working than a year ago. One of the possible reasons for that is that as the population ages, more people retire and reduce the work force.