By Jasmyn Belcher
Oswego, NY – As the unemployment rate rises, fewer upstate New Yorkers are spending money.
According to the latest Siena College poll, consumer confidence across N.Y. dropped three points last month. This comes as unemployment in the Syracuse area rose nearly one percentage point in January.
"We want to say, ok if indeed we have to rebuild our economy, in what way are we going do it?" said Don Levy, the director of Siena College Research Institute, "And that is insufficiently clear right now. You add in things like our state government in turmoil, the governor of the state of New York even saying that we might start closing state parks. You add in the Toyota recall and consumers are sitting there saying, what else are you going to do to me?"
Levy said the level of confidence is worse Upstate.
By 3:1 New Yorkers say their finances have gotten worse in the last year, 54% predict another bad economy. Most predict five lean years. The exception to slow spending is the intent to buy homes, which is as high as it has been in a year and a half.