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December 22nd, 2006
A steep decline in the region's manufacturing sector was more than offset last month by job gains in science and technology, hospitality and retailing. The result: unemployment in the Capital Region fell to 3.4 percent in November from 3.8 percent a year ago.
The region's gains in science and technology jobs, which now number 27,000, came as no surprise to Rocco Ferraro, who heads the Capital District Regional Planning Commission, a four-county planning and data analysis group.
"It reinforces the anecdotal evidence we've seen in terms of the investments in nanotechnology," Ferraro said. "We've seen net in-migration over the last couple of years, based on income tax filings. Historically, we've had a decline."
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