Experts: The future looks promising in CNY
By Deborah Jeanne Sergeant
This year promises to continue the region’s upswing in employment.
As of November 2024, the New York State Department of Labor reports that the Syracuse metropolitan statistical area, including Onondaga, Madison and Oswego counties, has 296,200 private sector jobs and 370,100 nonfarm (private plus government) jobs.
The four industry sectors that comprise 70% of total nonfarm jobs include government (73,900); trade, transportation and utilities (71,100); private education & health services (71,000); and professional & business services (41,500).
“Local unemployment rates are low and job growth is strong over a diversified industry base,” said Karen Knapik-Scalzo, associate economist with the New York State Department of Labor, Division of Research & Statistics in Syracuse. “The Syracuse metropolitan statistical area’s November 2024 unemployment rate of 3.3% is well below the year-ago level of 3.7% and is also below the state [4.2%] and national [4.0%] levels. Job growth continues in the Syracuse metro area as 4,200 nonfarm jobs were added over the year ending in November 2024.”
The NYS-DOL further states on its website that “private sector jobs in the Syracuse metro area rose over the year by 5,400, or 2.1%, to 263,400 in December 2024 as the economy continues to expand. Job gains occurred in private education and health services (+2,900), professional and business services (+900), trade, transportation and utilities (+700), leisure and hospitality (+600), mining, logging and construction (+400) and other services (+100). Job losses occurred in information (-200). The government job count rose over the year (+800), with growth concentrated in state government education.”
In Oswego County, the unemployment rate was 4.2% in December 2024, lower than the 5.2% in the same month the year before, marking the fifth month in a row that year in which the unemployment rate was lower than in 2023.
Employment by industry in the Syracuse MSA is divided into trade/transportation/utilities (20%), government (19%), private education & health (18%), professional (12%), leisure/hospitality (9%), manufacturing (8%), other (5%), construction (4%) and finance (4%).
One of the major catalysts of forthcoming changes that may shift some of these categories’ percent of the pie is the upcoming Micron expansion in Clay. Micron’s self-proclaimed “mega-fab” microchip plant will include an investment of approximately $100 billion through 2030, representing the largest private investment in New York State history. The project is estimated to generate about 50,000 jobs, both directly related to chip manufacturing and spin-off jobs created to support the building of the site and to provide the needs of newcomers to the area.
Elvis Mehmedovic, franchise owner of Express Employment in Syracuse, calls the new plant a “major project,” that along with new restaurants and hotels and increased enrollment at SU and LeMoyne shows growth in the area.
“That powerhouse back in the day that Syracuse used to be is kind of being rediscovered,” Mehmedovic said. “The location in and of itself is central. It’s a phenomenal junction to move goods. Transportation has always been good here.”
The region’s abundant water, educational opportunities and available workforce are resources that can continue to fuel employment growth in area.
