The Syracuse Recession

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The Syracuse Recession December 2007 - ?
Presented by Roger Evans Principal
Economist New York State Dept. of Labor May 6,
2009
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When the national economy turns around in 2010,
Syracuse will be ready.

• Syracuse entered the recession with low
  unemployment rates and numerous labor shortages.
• Many of our largest industries are still growing
  despite the recession. They include education,
  health and social services, and leisure and
  hospitality.
• Our population is declining and future population
  gains will be in the very young and the over 55
  age groups.
• One of four young people leave Central NY for
  their next career position, and nobody is taking
  their places.
• When the jobs come back late this year or next,
  will the workers still be here?

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Population Trends
SOURCE U.S. Census Bureau
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National Labor Force Trends by Age Group
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When the jobs come back, they wont look the
same. And the skills requirements will be higher.

• Manufacturing jobs in Syracuse have never
  recovered fully from a recession. We reach a new
  record low with each downturn.
• Future hiring will be strongest in highly skilled
  Professional occupations, and high and lower
  skilled Service jobs.
• The entry level career position will require at
  least a vocational award beyond high school.
  Persons with a Bachelors degree or higher

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Rising Educational Requirements
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Growth is in Professional and Service Areas
Growth is in Professional and Service Occupations
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Top Professional Occupations
Skilled jobs with high educational requirements
will be in strong demand.
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Top Service Occupations
The second major area of demand? Anyone who can
get by on less than 10 per hour.