A vibrant economy is the foundation of a thriving community.
In this section, we highlight trends for 4 indicators: 1) job growth or loss; 2) major employment sectors; 3) spending by county government; and 4) tourism revenue.
In all cases, comparisons to state statistics reflect the state excluding New York City.
Despite a small decline in jobs during the Great Recession, regional job growth is now at its highest level since 2007. Most major employment sectors have experienced job growth, with the strongest growth in financial activities, professional and business services and health care/social assistance. Country government spending is rising throughout the region. Tourism revenues have slipped since 2005 in the region, with Ulster having the only increase.
Regional job growth has been strong through the decade overall, despite job losses in 2009.
Between 2000 and 2015, total jobs in the region increased 12%, below the nation (15%) but above the state (7%). Between 2014 and 2015, jobs increased 1.8% in the region and 1.3% in the state, compared to a 2.2% increase for the nation. Orange County led the region with a 2.3% increase in jobs in 2015 followed by 1.6% in Ulster and 1.4% in Dutchess.
Some of the largest employment sectors in the region added a significant number of jobs between 2001 and 2015.
Industries with the largest gains were Financial Activities (36%), Leisure and Hospitality (32%), Professional and Business Services (30%), and Health Care and Social Assistance (28%). Manufacturing lost jobs at a greater rate (37%).
Spending by county government grew 15% from 2000 to 2015.
That compares to a statewide increase of 9%. County government spending per capita for the region was about $1,900 in 2015, compared to $2,150 for the state. From 2000 to 2015, per capita spending increased 24% in Orange County, 10% in Dutchess and 3% in Ulster. In 2015, Orange County had the highest county spending ($2,200), followed by Ulster ($1,840) and Dutchess ($1,570) counties.
Tourism revenue increased 2% over the past 10 years in the region.
Tourism revenue grew from $1,750 per capita in 2005 to $1,870 in 2007, but fell to $1,600 in 2009, about $130 below the state level. In 2015, tourism revenue was much greater in Ulster County at almost $3,000, compared to $1,790 in Dutchess and $1,200 in Orange counties.