A vibrant economy is the foundation of a thriving community. In all cases, comparisons to state statistics reflect the state excluding New York City.
Regional job growth declined in 2020, as COVID shutdowns impacted the economy .
The region lost about 8% of its jobs in 2020, similar to the state level of job loss, as the coronavirus shutdowns impacted the economy. Sullivan County had the largest decline (9.3%) followed by 8.8% in Ulster. However, prior to COVID, the region’s level of job growth outpaced the state with an increase of 7% from 2001 to 2020 compared to 2% in the state as a whole (though that was less than the 15% increase in the nation).
Some of the largest employment sectors in the region added a significant number of jobs between 2001 and 2020.
Industries with the largest gains were Financial Activities (35%), Professional and Business Services (28%), and Health Care and Social Assistance (28%), while Government lost jobs (-6%). Orange and Putnam counties had the largest total gains at 17% and 15% respectively while Dutchess and Ulster counties experienced 1% and 2% decreases respectively.
Spending by county government, after adjusting for inflation, grew 11% from 2000 to 2020.
That compares to a statewide increase of 10%. County government spending per capita for the region was about $2,120 in 2020, compared to $2,360 for the state. From 2000 to 2020, per capita spending increased the most, 53%, in Greene County followed by 20% in Dutchess. Ulster, Putnam and Sullivan counties all decreased in per capita spending from 2000 to 2020. In 2020, Sullivan County had the highest county spending ($2,950), while Putnam had the least ($1,730).
Tourism revenue decreased 9% in the region since 2005 primarliy due to COVID-19 in 2020.
Despite the COVID pandemic, tourism brought about $1,900 per capita into the region in 2020 and was strongest in Sullivan and Greene counties on a per-capita basis. Adjusted for inflation, tourism revenue per capita declined after the Great Recession in 2008, rebounded from 2010 to 2019, but declined 37% in 2020 from 2019 likely due to COVID.
| INDICATORS | TREND | STATE |
|---|---|
| Change in Total Jobs | Decreasing |
| Employment by Sector | Not Applicable |
| Spending for County Government | Increasing |
| Tourism Revenue | Decreasing |
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