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New York State Department of Labor

New York State Economy Tops 8 Million Private Sector Jobs; Statewide Unemployment Rate Falls to 4.6%

28,500 Private Sector Jobs Added in January 2017

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Albany, NY (March 09, 2017) -

In January 2017, New York State’s private sector job count increased by 28,500, or 0.4%, to 8,035,600, a new record high, according to preliminary figures released today by the New York State Department of Labor. Since the end of the State’s recession in late 2009, New York has added more than one million private sector jobs. Since the beginning of Governor Andrew M. Cuomo’s administration, New York State’s economy has added 941,500 private sector jobs and experienced employment growth in 62 of the past 73 months.

In January 2017, New York’s statewide unemployment rate decreased from 4.8% to 4.6%, its lowest level since June 2007. Pushing the statewide rate lower was a steep drop in New York City’s rate, which fell from 4.9% to 4.5%, its lowest level on record going back to 1976.

The State’s private sector job count is based on a payroll survey of 18,000 New York employers conducted by the U.S. Department of Labor’s Bureau of Labor Statistics. Monthly payroll employment estimates are preliminary and subject to revision as more data becomes available the following month. The federal government calculates New York State’s unemployment rate based partly upon the results of the Current Population Survey, which contacts approximately 3,100 households in New York State each month.

“The State’s labor market continued to expand in January 2017. Not only did the statewide economy reach a new record high of more than 8,000,000 private sector jobs, but our state’s unemployment rate dropped to its lowest level in almost a decade,” said Bohdan M. Wynnyk, Deputy Director of the New York State Department of Labor’s Division of Research and Statistics.

Note: Seasonally adjusted data are used to provide the most valid month-to-month comparison. Non-seasonally adjusted data are valuable in year-to-year comparisons of the same month – for example, January 2016 versus January 2017.

Jobs data are revised at the end of each year for all states and the nation as more complete information becomes available from employers’ Unemployment Insurance records. This process is called “benchmarking” and is federally mandated. For more details, see: Annual Benchmark Analysis (opens in new window).

Labor force data, including unemployment rates, are also revised at the end of each year, using methods established by the U.S. Bureau of Labor Statistics. The revised labor force data show that New York State’s annual average unemployment rate fell from 5.3% in 2015 to 4.8% in 2016.

 

United States and New York State: December 2016 – January 2017

1) Jobs data (seasonally adjusted):

The table below compares the over-the-month change in total nonfarm and private sector jobs in the United States and New York State in December 2016 – January 2017.

Change in Total Nonfarm and Private Sector Jobs
December 2016 – January 2017
 Change in
Total Nonfarm Jobs:

(private sector + government)
Change in
Private Sector Jobs:

Net
%
Net
%
United States +227,000 +0.2% +237,000 +0.2%
New York State +28,700 +0.3% +28,500 +0.4%

 

2) Unemployment rates (seasonally adjusted):

The State’s unemployment rate is calculated by the U.S. Bureau of Labor Statistics, using a statistical regression model that primarily uses the results of the Current Population Survey (CPS). The CPS contacts approximately 3,100 households in New York State each month. In January 2017, the statewide unemployment rate decreased from 4.8% to 4.6%. The number of unemployed New Yorkers decreased from 456,700 in December 2016 to 435,800 in January 2017.


Unemployment Rates (%)*
*Data are preliminary and subject to change, based on standard procedures outlined by the U.S. Bureau of Labor Statistics.
 January 2017*December 2016January 2016
United States 4.8 4.7 4.9
New York State 4.6 4.8 4.9
New York City 4.5 4.9 5.3
NYS, outside NYC 4.6 4.7 4.6

 

U.S., New York State and Metro Areas: January 2016 – January 2017

1) Jobs data (not seasonally adjusted):

The following table compares the over-the-year change in total nonfarm and private sector jobs that occurred in the United States, New York State and metro areas within the State between January 2016 and January 2017.


Change in Total Nonfarm and Private Sector Jobs
January 2016 – January 2017
 Change in
Total Nonfarm Jobs:

(private sector + government)
Change in
Private Sector Jobs:
 
Net
%
Net
%
United States +2,132,000 +1.5% +2,016,000 +1.7%
New York State +132,200 +1.4% +123,600 +1.6%
    Albany-Schenectady-Troy +5,900 +1.3% +4,600 +1.3%
    Binghamton +500 +0.5% +400 +0.5%
    Buffalo-Niagara Falls +9,000 +1.6% +7,500 +1.6%
    Dutchess-Putnam -2,100 -1.5% -1,900 -1.7%
    Elmira +300 +0.8% +300 +1.0%
    Glens Falls +1,200 +2.3% +600 +1.4%
    Ithaca +3,300 +5.5% +3,300 +6.3%
    Kingston +1,400 +2.4% +1,400 +3.1%
    Nassau-Suffolk +27,900 +2.2% +24,800 +2.3%
    New York City +84,000 +2.0% +81,900 +2.2%
    Orange-Rockland-Westchester +9,400 +1.4% +7,900 +1.4%
    Rochester -2,600 -0.5% -1,100 -0.2%
    Syracuse +3,500 +1.1% +3,200 +1.3%
    Utica-Rome +1,900 +1.6% +2,000 +2.2%
    Watertown-Fort Drum +400 +1.0% +600 +2.1%
    Non-metro Counties +500 +0.1% +1,200 +0.3%

 

Job highlights since January 2016:

  • Thirteen metro areas in New York State added private sector jobs over the past year, with the most rapid growth in these areas:
    • Ithaca (+6.3%)
    • Kingston (+3.1%)
    • Nassau-Suffolk (+2.3%)
    • New York City (+2.2%)
    • Utica-Rome (+2.2%)
    • Watertown-Fort Drum (+2.1%)
  • Over the past year, two metro areas in the state – Dutchess-Putnam (-1.7%) and Rochester (-0.2%) – lost private sector jobs.

Change in jobs by major industry sector: January 2016 – January 2017

1) Jobs data (not seasonally adjusted):

The table below compares the over-the-year change in jobs by major industry sector in New York State occurring between January 2016 and January 2017.

Change in Jobs by Major Industry Sector
January 2016 – January 2017

*Educational and health services is in the private sector.
Government includes public education and public health services.
Sectors With Job Gains:
Educational & Health Services* +65,200
Professional & Business Services +38,500
Trade, Transportation & Utilities +13,400
Leisure & Hospitality +12,000
Government* +8,600
Information +5,800
Other Services +5,100
 
Sectors With Job Losses:
Manufacturing -15,800
Financial Activities -500
Construction -100

 

Highlights among New York State sectors with job gains since January 2016:

  • Private educational and health services added the most jobs (+65,200) of any major industry sector over the past year. Sector job gains were mostly in health care and social assistance (+63,500), especially ambulatory health care (+27,700).
  • From January 2016 to January 2017, the second largest employment increase occurred in professional and business services (+38,500). Sector gains were centered in professional, scientific and technical services (+21,600) and administrative and support services (+15,100).
  • The third largest jobs increase over the past year occurred in trade, transportation and utilities, which grew by 13,400. Over-the-year job gains in this sector were centered in retail trade (+13,000), especially clothing and clothing accessories stores (+6,400).
  • Leisure and hospitality had the fourth largest increase in jobs (+12,000) between January 2016 and January 2017. Over-the-year sector job gains were mostly in accommodation and food services (+14,400), especially food services and drinking places (+15,700).

Highlights among New York State sectors with job losses since January 2016:

  • Over the past 12 months, manufacturing lost the most jobs (-15,800) of any major industry sector in New York. Over-the-year sector losses were concentrated in durable goods (-11,300), especially machinery manufacturing (-1,900) and computers and electronic products (-1,600).
  • From January 2016 to January 2017, the second largest employment decrease occurred in financial activities, which lost 500 jobs. Sector job losses were focused in finance and insurance (-1,200), especially securities, commodity contracts and other financial investments (-900).

 

Unemployment Insurance Benefits: January 2017

1) Regular Unemployment Insurance (UI):

For New York State, during the week that included January 12, 2017, there were 151,533 people (including 139,324 who live in the State) who received benefits under the regular Unemployment Insurance (UI) program.

In January 2017, New York State residents who received Unemployment Insurance benefits made up 32% of the total unemployed.

Note: The responsibility for the production of monthly estimates of state and metro area nonfarm employment by industry moved from the Division of Research and Statistics to the U.S. Bureau of Labor Statistics (BLS), starting with the March 2011 estimates. More detailed information on the change is available on the BLS web site.

Many economic data series have a seasonal pattern, which means they tend to occur at the same time each year (e.g., retail jobs usually increase in January). Seasonal adjustment is the process of removing seasonal effects from a data series. This is done to simplify the data so that they may be more easily interpreted and help to reveal true underlying trends. Seasonal adjustment permits comparisons of data from one month to data from any other month.

Labor force statistics, including the unemployment rate, for New York and every other state are based on statistical regression models specified by the U. S. Bureau of Labor Statistics. In New York State, payroll jobs data by industry come from a monthly survey of 18,000 business establishments. Jobs data by industry do not include agricultural workers, the self-employed, unpaid family workers or domestic workers in private households.

 

See State and Area Job Data (opens in new window)
See Labor Market Overview (opens in new window)
See Jobs and Unemployment Fact Sheet (opens in new window)

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