Buffalo Economy Slows Down

October 15, 2012 Updated Oct 15, 2012 at 7:20 AM EDT

By WKBW News

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October 15, 2012 Updated Oct 15, 2012 at 7:20 AM EDT

BUFFALO, NY (WKBW) - Buffalo has held its own in the recession, but now a new report says the tables seem to be turning.

Employment has remained fairly steady in the Buffalo area in recent years and home values have actually increased, so we were ahead of many other areas. But a new On Numbers report says markets that were struggling a year or two ago are shifting into recovery mode, and several have zipped past Buffalo.

On Numbers Economic Index monitors the economic health of 102 major metropolitan areas. Oklahoma City is no. 1 this month, as it has been since August, while Austin remains in second place.

Buffalo ranks 37th in the October index, but it has fallen 23 places since August, the biggest drop in the nation. On Numbers researchers say unemployment has grown by more than a point in Buffalo in the past year and has grown by four points over the past five years.

Buffalo ranks 69th out of 102 metro areas in the report for unemployment.

The Business First Business Growth Expo will be held tomorrow, on Tuesday, October 16th. It runs from 11am to 5pm at the Buffalo Niagara Convention Center.

You can call 541-1631 for more information or register online at wkbw.com or buffalo.bizjournals.com.

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