Economic Insight

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CenterState CEO can provide the research, public policy and initiative development support to help you in strategic and day-to-day decision making.

Since our formation CenterState CEO has elevated the use of economic data, information and insight from the business community to conduct business development. We have built relationships with some of the most important policy think tanks in the United States, such as the Brookings Institution, to inform our strategies. The Brookings partnership helped shape regional economic development planning efforts such as the Metropolitan Export Initiative, a Metropolitan Business Plan and the Global Cities Initiative in partnership with J.P. Morgan Chase. Building on that work, CenterState CEO also developed a Metropolitan Foreign Direct Investment strategy with Brookings and regional partners.

Members can turn to the Research, Policy and Planning team as resource for:

  • Reliable economic insight and information
  • Expertise in placemaking, planning, urban revitalization, and strategic property redevelopment
  • Intelligent solution-oriented public policy analysis and advice

Monthly Economic Update

The April 2021 jobs report for Syracuse indicated lower rates of unemployment and gains in employment in Leisure and Hospitality, even as the jobs and labor force recovery slows.

Unemployment fell to post-pandemic lows in both the City of Syracuse and for the broader Syracuse Metro region in April. After falling sharply last summer, unemployment rates climbed slightly toward the end of 2020 as COVID-19 infections rose and economic activity slowed. Since February, more people in the workforce have found jobs as unemployment rates in the city have fallen to 7.6%, and rates for the broader metro region have fallen to 5.7%.

Percent change in employment by industry compared to 12-months ago shows that employment in Leisure and Hospitality, the region’s hardest hit industry, have nearly doubled from the pandemic lows of April 2020. Though this currently represents 22,500 jobs, it is still 7,000 fewer jobs than in April 2019.

Seasonally adjusted employment and unemployment fell slightly from March 2021 into April 2021, as 679 people exited the work force. The total number of seasonally adjusted employed in the Syracuse MSA for April 2021 was 284,164. This is an increase of 38,527 since the pandemic low of 245,637 in April 2020.

(Hover over charts for interactive data, or click on the "A Flourish chart" logo at the bottom of each graphic to access the full chart) 

State and Local Unemployment
Regional Industry Employment Change
Syracuse Labor Force

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