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County economy dips slightly in May

The Tompkins County economy fell slightly in May after a record high in the month of April.

Ithaca College Economist Elia Kacapyr’s index shows employment took a significant hit, but he says he isn’t too worried about the figures going forward.

Tompkins County lost 1,200 jobs in May, but there are 600 more jobs than in May of last year.

Home sales dipped nearly 21% in May, which accounts for the drop in economic activity, but Kacapyr says that’s because there is less inventory on the market.

He says median sales prices jumped nearly $50,000 compared to the same period last year.

Kacapyr predicts steady growth for the economy as the summer progresses.

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