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Old Posted Apr 3, 2011, 6:31 PM
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Some decent local economic news from the Ithaca Journal.


Tompkins County Economic Index: County economy improves in February
6:20 PM, Apr. 1, 2011

The Ithaca College Index of Economic Activity in Tompkins County advanced 0.73 percent in February to a level 157.47 from a revised mark of 156.33 in January.

Building permits and home sales showed strength, while air traffic declined modestly. Employment, retail sales, and help wanted advertising held steady. Compared to February 2010, economic activity was up 2.27 percent.

The county economy added 100 jobs in February to bring total employment to 65,100 on a seasonally adjusted basis. The unemployment rate fell to 6 percent compared to 6.3 percent a year earlier. The unemployment rate in New York State was 8.7 percent and 9.5 percent across the nation.

Retail sales were just barely higher in February than January on a seasonally adjusted basis. However, retail sales this February were 6.12 percent higher than last. Look for retail sales to increase by 10 percent in 2011.

The number of passengers boarding and deplaning at Ithaca Tompkins Regional Airport was 6.24 percent higher in February on a seasonally adjusted basis. Compared to February 2010, air traffic was up 10.8 percent.

Residential building permits issued in Tompkins County vaulted 93.1 percent in February. Building permits have a tendency to swing widely from month to month. Compared to February 2010, building permits were off 32.7 percent.

County realtors sold 71 homes in February on a seasonally adjusted basis. This amounts to a gain of 5.5 percent over last month. Compared to January 2010, homes sales were up 23.1 percent. However, sales prices softened. The average sales price of a home in Tompkins County was $174,800 compared with $191,700 a year ago. The median sales price was $143,500 compared with $155,300 a year ago.

Help wanted advertising increased 6.29 percent in February. Compared to February 2010, help wanted advertising was up 13.89 percent. These increases are evidence of an improving labor market.

The Tompkins County Economic Index appears monthly in The Ithaca Journal. Elia Kacapyr is professor and chairman of the Department of Economics at Ithaca College.


Here's the link:
http://www.theithacajournal.com/arti...xt|FRONTPAGE|p
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