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New York State Department of Labor

NYS Economy Grew in March 2018, Reaches New, Record
Private Sector Job Count

State Jobless Rate Remains at 4.6%, Lowest Level Since Before the Recession

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Albany, NY (April 19, 2018) -

In March 2018, New York State’s private sector job count rose by 200 to 8,152,500, a new, all-time high, according to preliminary figures released today by the New York State Department of Labor. Since the beginning of Governor Andrew M. Cuomo’s administration, New York State’s economy has added 1,058,400 private sector jobs and experienced employment growth in 76 of the past 87 months.

New York’s statewide unemployment rate remained unchanged at 4.6% in March 2018. This unemployment rate matches New York State’s lowest level since July 2007. New York City’s jobless rate was also unchanged, at 4.2%, in March 2018, and remains at an all-time low (the current series dates 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 become 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.

“New York State’s economy continued to expand in March as we reached a new, all-time high private sector job count and remained at our lowest statewide unemployment rate since before the recession,” said Bohdan M. Wynnyk, 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, March 2017 versus March 2018.

 

United States and New York State: February – March 2018

1) Jobs data (seasonally adjusted):

The table below compares the over-the-month change in the total nonfarm and private sector job counts in the United States and New York State in February-March 2018.

Change in Total Nonfarm and Private Sector Jobs
February – March 2018
 Change in
Total Nonfarm Jobs:

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

Net
%
Net
%
United States +103,000 +0.1% +102,000 +0.1%
New York State +500 0.0% +200 0.0%

 

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 March 2018, the statewide unemployment rate remained unchanged at 4.6%. In addition, the number of unemployed New Yorkers decreased over the month, from 449,900 to 449,000.


Unemployment Rates (%)*
*Data are preliminary and subject to change, based on standard procedures outlined by the U.S. Bureau of Labor Statistics.
 March 2018*February 2018March 2017
United States 4.1 4.1 4.5
New York State 4.6 4.6 4.7
New York City 4.2 4.2 4.6
NYS, outside NYC 5.0 4.9 4.7

 

United States, New York State and Metro Areas: March 2017 – March 2018

1) Jobs data (not seasonally adjusted):

The following table compares the over-the-year changes in the total nonfarm and private sector job counts occurring in the United States, New York State and metro areas within the State between March 2017 and March 2018.


Change in Total Nonfarm and Private Sector Jobs by Area
March 2017 – March 2018
 Change in
Total Nonfarm Jobs:

(private sector + government)
Change in
Private Sector Jobs:
 
Net
%
Net
%
United States +2,254,000 +1.6% +2,253,000 +1.8%
New York State +105,900 +1.1% +105,300 +1.3%
    Albany-Schenectady-Troy +6,800 +1.5% +6,900 +1.9%
    Binghamton -400 -0.4% 0 0.0%
    Buffalo-Niagara Falls +7,900 +1.4% +7,600 +1.6%
    Dutchess-Putnam +3,800 +2.6% +3,700 +3.1%
    Elmira -500 -1.4% -500 -1.6%
    Glens Falls +100 +0.2% -100 -0.2%
    Ithaca +2,100 +3.3% +2,200 +4.0%
    Kingston +400 +0.7% +500 +1.1%
    Nassau-Suffolk +17,300 +1.3% +16,100 +1.4%
    New York City +72,400 +1.6% +74,600 +1.9%
    Orange-Rockland-Westchester +3,500 +0.5% +2,200 +0.4%
    Rochester +6,900 +1.3% +6,100 +1.4%
    Syracuse +1,500 +0.5% +1,000 +0.4%
    Utica-Rome -1,600 -1.3% -600 -0.6%
    Watertown-Fort Drum +500 +1.2% +600 +2.1%
    Non-metro Counties +1,400 +0.3% +600 +0.2%

 

Job highlights since March 2017:

  • Eleven metro areas in New York State added private sector jobs over the past year. The most rapid employment growth was in these areas:
    • Ithaca (+4.0%)
    • Dutchess-Putnam (+3.1%)
    • Watertown-Fort Drum (+2.1%)
    • Albany-Schenectady-Troy (+1.9%)
    • New York City (+1.9%)
    • Buffalo-Niagara Falls (+1.6%)
  • Non-metro counties in New York added 600 private sector jobs over the past year.
  • Over the past 12 months, three metro areas in the state lost private sector jobs: Elmira (-1.6%), Utica-Rome (-0.6%) and Glens Falls (-0.2%).

Change in jobs by major industry sector: March 2017 – March 2018

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 March 2017 and March 2018.

Change in Jobs by Major Industry Sector
March 2017 – March 2018

*Educational and health services is in the private sector.
Government includes public education and public health services.
Sectors With Job Gains:
Educational & Health Services* +36,400
Professional & Business Services +30,400
Trade, Transportation & Utilities +10,700
Financial Activities +9,300
Leisure & Hospitality +8,800
Other Services +6,600
Construction +5,300
Government* +600
Information +200
Natural Resources & Mining +100
 
Sectors With Job Losses:
Manufacturing -2,500

 

Highlights among New York State sectors with job gains since March 2017:

  • Private educational and health services added the most jobs (+36,400) of any major industry sector over the past year. Sector job gains were mostly in health care and social assistance (+46,200), especially ambulatory health care (+23,300).
  • From March 2017 to March 2018, the second largest employment increase occurred in professional and business services (+30,400). Most over-the-year job gains in this sector were found in administrative and support services (+21,100) and professional, scientific and technical services (+9,100).
  • The third largest increase in jobs over the past year occurred in trade, transportation and utilities, which grew by 10,700. Sector gains were centered in retail trade (+5,000), especially food and beverage stores (+3,700).
  • Financial activities had the fourth largest increase in jobs (+9,300) between March 2017 and March 2018. Over-the-year sector gains were concentrated in real estate and rental and leasing (+7,800), especially real estate (+3,600).

Highlights among New York State sectors with job losses since March 2017:

  • Over the past 12 months, manufacturing lost the most jobs (-2,500) of any major industry sector in New York State. Over-the-year sector losses were focused in durable goods (-3,500), especially fabricated metal products (-1,300).

 

Unemployment Insurance Benefits: March 2018

1) Regular Unemployment Insurance:

For New York State, during the week that included March 12, 2018, there were 143,334 people (including 132,020 who live in the State) who received benefits under the regular Unemployment Insurance program.

In March 2018, New York State residents who received Unemployment Insurance benefits made up 29% 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 December). 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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