Historically low unemployment continues for Columbia County
For the sixth consecutive month, Columbia County posted the lowest unemployment rate of any county in the state according to the NYS Department of Labor’s preliminary November 2018 Area Unemployment Rates Press Release. The County’s November unemployment rate of 2.6% is its lowest on record since December, 1999, and down from a 3.5% rate in November, 2017. This signals strong and persistent growth for the County’s economy and job market since the unemployment rate peaked at 8.2% in 2012 in the years following the financial crisis. The larger Capital Region also registered some of the state’s lowest unemployment rates, with the Albany-Troy-Schenectady metro-area at 3.1%, and Albany and Saratoga counties among the lowest in the state.
Columbia County’s labor market has been bolstered by growth in key sectors and strategic investments in recent years. Columbia Economic Development Corporation (CEDC) has continued to support job creators in the private, not-for-profit, and educational sectors throughout the County’s strong economic year in 2018, and will continue to expand on these successes in the coming years.
“Economic development is all about providing decent job opportunities and a high quality of life for people and families,” said CEDC President and CEO F. Michael Tucker. “Leading the state in employment rates is an encouraging sign that our economy is healthy and many of our strategies are working, but we are always seeking new and better ways to strengthen Columbia County’s economy.”