County's economy: Tompkins not immune to nation's job woes

If you travel around the county enough and read through the national media's portrayal of our “oasis,” you may start believing that Tompkins County is immune to what happens to the rest of the nation's economy. But last week we had a stark reminder that despite low unemployment figures and a relatively stable housing market, there are microeconomic blips on our economic radar. BorgWarner announced it may cut up to 240 local jobs in Tompkins and Cortland counties as part of a restructuring plan. As national car production decreases, the demand for the parts BorgWarner supplies for major car companies is reduced and the company doesn't need as many workers. That scenario is playing out in scores of communities across the country in all types of industries, including newspapers and other media. Headline layoffs like those... [read full story]                    

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