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Small Business

$15 minimum wage phase-in continues as labor shortages drive up wages

New York’s $15 minimum wage phase-in will continue with the next stage taking effect on Dec. 31 of this year.  The announcement follows a required report by the state Division of the Budget that found “evidence of pressure for wages to rise in the midst of a pandemic-driven labor shortage,” the New York State Department […]

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New York milk production rises nearly 2 percent

New York dairy farms produced nearly 1.27 billion pounds of milk in September, up almost 1.8 percent from more than 1.24 billion pounds in the year-prior month, the USDA’s National Agricultural Statistics Service (NASS) recently reported. Milk production per cow in the state averaged 2,015 pounds in September, up 1.5 percent from 1,985 pounds in

New York egg production dips more than 1 percent

New York farms produced 144.2 million eggs in September, down 1.1 percent from 145.8 million eggs in the year-prior period, the USDA’s National Agricultural Statistics Service (NASS) recently reported. The number of layers in the Empire State averaged 5.71 million in September, a decline of 1.2 percent from nearly 5.78 million in the same month

New York home sales slip nearly 5 percent in September

The drop ends a streak of 12 straight monthly gains ALBANY — New York realtors sold 13,274 previously owned homes in September, down 4.6 percent from 13,907 homes sold in September 2020. The data comes from the New York State Association of Realtors’ (NYSAR) September housing-market report issued Oct. 21. The decline broke a string

Upstate, statewide consumer sentiment plummet in Q3

Upstate New Yorkers became less confident about economic conditions in the third quarter of 2021. Consumer sentiment in Upstate was measured at 63.4 in the third quarter, down 13.2 points from the last reading of 76.6 in this year’s second quarter. The latest reading represents Upstate’s lowest overall index score since 2011. That’s according to

Regional firms to pitch for funding in FuzeHub contest

ALBANY, N.Y. — The finalists in FuzeHub’s 2021 commercialization competition include businesses from Syracuse, Cazenovia, Binghamton, Hamilton, and Potsdam. The event is set for Nov. 8-9 at the Turning Stone Resort Casino in Verona. The competition — part of FuzeHub’s Jeff Lawrence Innovation Fund — is in its fifth year. A total of 12 entrepreneurs

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