Study: Westchester Work Force Growing Faster Than Job Availability
According to a study conducted by the Marist College Bureau of Economic Research—based mainly on third-quarter results in the Hudson Valley—there was a spike in Westchester's labor force in the third quarter of 2009, while the number of jobs failed to keep up with the increased rate of those seeking them.
The report noted that the number of jobs in the financial services sector—which are dependent on external factors—were down. According to the director of Marist's Buceau of Economic Research, Christy Huebner Caridi, if the existing economic conditions are here to stay, economic growth in Westchester will slow down.
On a positive note, however, perfomance in the life science and solar sectors were strong—thanks to companies such as Ardsley-based OSI Pharmaceuticals and Tarrytown-based Regeneron.