Not great news, but I know other places are feeling the downturn more. From the Ithaca Journal:
Economic Index: Tompkins economy cools in September
5:10 PM, Nov. 4, 2011
The Tompkins County economy continued its up and down ways in September.
The Ithaca College Index of Economic Activity dipped 1.56 percent on a seasonally adjusted basis to 157.00 from a revised mark of 159.49 in August. Job losses and a drop in homes sales dragged the index down. Gains in retail sales, air traffic, building permits and help wanted advertising were not enough to offset the downdraft. Compared to September 2010, economic activity was up 0.25 percent.
After adding 1,000 jobs in August, Tompkins County lost 2,100 jobs in September. These gyrations in employment have clouded the jobs outlook. It appears as if the county economy will add about 1,000 in 2011, but the recent volatility in the employment numbers makes any forecast less reliable. The unemployment rate was 5.6 percent compared to 6.5 percent last year in Tompkins County.
County retailers had a good September, ringing up $133.6 million in sales. This amounts to a bump of 3.97 percent over August. Compared to September 2010, the volume of retail sales was up 1.22 percent. The retail sector of the County economy has not been strong so far in 2011.
The number of passengers boarding and deplaning at Ithaca Tompkins Regional Airport lofted 2.00 percent in September on a seasonally adjusted basis. Compared to September 2010, air traffic was down 2.40 percent.
Residential building permits issued in Tompkins County vaulted 98.50 percent in September. Building permits have a tendency to swing widely from month to month. For the year, building permits are on a par with last year's pace.
County real estate agents sold 68 homes in September on a seasonally adjusted basis. This compares with 80 homes sold in August. Compared to September 2010, home sales were off 14.75 percent. Home sales in Tompkins County have been erratic over the past two years. No trend, upward or downward, has been established. However, home prices softened further September. The average sales price was $182,500 compared to $200,600 in September 2010. The median sales price was $165,000 compared to $172,500 a year earlier.
Help wanted advertising advanced 7.39 percent. Compared to September 2010, help wanted advertising was up 10.40 percent. These increases signal an improving labor market.
Economic Index appears monthly. Elia Kacapyr is professor and chairman of the Department of Economics at Ithaca College
The link:
http://www.theithacajournal.com/arti...conomy-cools-S