CEG Economic Development Week in Review – December 24 – December 28, 2018
Stay up-to-date on business and economic development happenings in the Capital Region with the CEG Economic Development Week in Review. Don’t miss out on the developments that are transforming the region by following us on:
CEG IN THE NEWS
REGIONAL ECONOMIC DEVELOPMENT NEWS
“Tucked away off Route 50 in Saratoga Springs, New York, a small startup is creating materials that billion dollar companies have spent decades trying to perfect.
Free Form Fibers is a six person company creating ceramic fibers that can be woven into durable parts for the nuclear and aviation industries. The team is made up of all Ph.D.s figuring out problems that could advance billion dollar businesses.”
“The Albany-Schenectady-Troy metro area added 1,300 private-sector jobs in November. That was a 0.3 percent increase over the year prior.
The educational and health services sector added 2,000 jobs in November, compared with November 2017. Businesses in the construction and natural resources sector added 600 jobs.”
“The Capital Region jobless rate remained at a nearly 20-year low in November, substantially below year-earlier levels, despite a significant increase in the size of the workforce.
The state Department of Labor on Thursday reported the unemployment rate was just 3.1 percent in November 2018, the same as in the preceding month. The Albany-Schenectady-Troy Metropolitan Statistical Area hasn’t seen a November jobless rate that low since 1999 — or an October jobless rate that low since 2000. The only lower November jobless rate since county-level records began being kept — in 1990 — was 3 percent, in 1998.”