Due to the Federal government shutdown, the U.S. Bureau of Labor Statistics delayed sending jobs and labor force data to the State Department of Labor. As a result, the press release schedule for October and November has been revised to this updated schedule
Private sector employment in New York City rose by 82,800, or 2.5 percent, to 3,457,500 for the 12-month period ending October 2013. Job growth occurred in education and health services (+38,700), trade, transportation & utilities (+14,700), leisure and hospitality (+11,100), professional & business services (+11,000), financial activities (+5,400), and other services (+4,700). Jobs were lost in manufacturing and information (-1,500, respectively). Construction employment was relatively unchanged. Government employment declined by 3,800 jobs over-the-year.
New York City’s private sector job count increased by 33,700 between September and October (not seasonally adjusted), a slightly better showing than suggested by historical averages. The professional and business services sector, which was noticeably weak in September, bounced back somewhat adding 5,700 jobs. Although gains in professional and business services slowed in 2013, this sector remains an engine of growth for the city, with special areas of strength in advertising and computer systems design categories, which stand near all-time highs in employment. As we move into the Christmas season, retail hiring is running at an average pace through October, while leisure and hospitality suffered a second consecutive monthly decline.
The NYC over-the-year picture was positive, with seven sectors adding jobs while information and manufacturing lost jobs. The city’s three largest sectors – health & educational services, professional & business services, and trade, transportation, & utilities – were responsible for more than three out of every four jobs added over the last 12 months. The city’s over-the-year private sector growth rate (+2.5 percent) was above the state’s (+1.5 percent) and the nation’s (+2.1 percent).
The city’s seasonally-adjusted unemployment rate was 8.7 percent in October 2013, up slightly from September 2013, but down from a year ago. New York State’s rate was 7.7 percent in October 2013. The over-the-year drop in New York City’s unemployment rate occurred despite an uptick in the number of jobseekers (+60,583), as the number of City residents with jobs climbed by close to 65,000. The share of the city's working-age population (16+) who were employed was 54.9 percent in October 2013, unchanged from last month.
New York City’s seasonally-adjusted total nonfarm employment was 3,982,000 in October 2013. New York City has added 313,300 jobs (+8.5%) since the job market bottomed out in November 2009.
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