Economic consulting firm Moody’s Economy.com predicts that the Albany-Schenectady-Troy metro area will experience a 0.7 percent drop in jobs across all sectors by the fourth quarter of 2010.
The forecasted model, released Friday, compares fourth-quarter job growth for 2009 with the predicted growth or decline the following year.
The Capital Region’s forecast was among 384 metro areas in the U.S.
The predictions are also based on demographic trends like aging populations, cost of living, global awareness of regional economies, policy decisions from the Federal Reserve and the stimulus package, along with regional industry trends, like the growing tech valley sector in New York state.
Predicted job growth/decline by fourth Quarter 2010, by sector:
Construction, -1.4%
Education and health services, +0.8%
Financial activities, +0.2%
Government, -5.3%
Information, -2.2%
Leisure and hospitality, +0.8%
Manufacturing, -1%
Natural resources and mining, -1.3%
Other services (repair and maintenance, laundry, religious, grantmaking, civic and professional organizations), +2.8%
Professional & business services, +0.6%
Retail trade, +2%
Transportation & warehousing, -0.1%
Utilities, +1.9%
Wholesale trade, +0.5%
Categories: Business
