Economic Insight

Go Back

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

Local employment data for March showed that unemployment in the City of Syracuse fell to its lowest level since the start of the pandemic, even while it remained higher for the city than national and regional averages. The rate of unemployment in the city was 8.6%, compared to 8.5% for New York State and 6.6% for the Syracuse Metro region in March. The national unemployment rate for March was 6.2%. Unemployment rates fell sharply since last Spring’s highs of over 17% in the Syracuse Metro region and have been between 5.7% and 7.4% since October 2020.

While many industries are slowly returning to their pre-pandemic levels of employment, Leisure and Hospitality, and Accommodations and Food Services continue to lag well behind employment levels from 2020. In the Syracuse Metro region in March, most industries moved closer to pre-pandemic employment levels as employment and consumer activity strengthened. Even though there were improvements in Leisure and Hospitality and Accommodation and Food Services, those industry employment levels were down 27.3% and 23.7% compared to 12-months ago, respectively.

Overall employment in the Syracuse Metro region declined slightly by 400 jobs from February to March 2021 (seasonally adjusted). This comes after the region posted four consecutive months of job gains totaling 12,500 jobs since October 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

Become A Member

Just making sure you are a human.