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New York State Department of Labor

New York State Unemployment Rate Drops to 4.8%, Falls Below National Rate

Unemployment Falls to Lowest Level Since November 2007 as State’s Economy Adds 30,300 Private Sector Jobs in October

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Albany, NY (November 19, 2015) -

In October 2015, New York State’s private sector job count increased by 30,300, or 0.4%, to 7,859,000, a new record 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’s economy has added 748,700 private sector jobs and experienced employment growth in 50 of the past 58 months.

The statewide unemployment rate decreased from 5.1% to 4.8% in October 2015, reaching its lowest level since November 2007 and falling below the national unemployment rate.

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’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.

In October 2015, New York State’s private sector job count climbed by 30,300 to 7,859,000, reaching a new record high. In addition, New York’s unemployment rate continued its recent downward trend, dropping to 4.8% in October, dropping below the nation’s and reaching the state’s lowest level in almost eight years,” said Bohdan M. Wynnyk, Deputy Director of the 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, October 2014 versus October 2015.

 

U.S. and New York State: September - October 2015

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 September-October 2015.

Change in Total Nonfarm and Private Sector Jobs
September – October 2015
 Change in
Total Nonfarm Jobs:

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

Net
%
Net
%
United States +271,000 +0.2% +268,000 +0.2%
New York State +28,700 +0.3% +30,300 +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, which contacts approximately 3,100 households in New York State each month. In September-October 2015, the statewide unemployment rate decreased from 5.1% to 4.8%. The number of unemployed New Yorkers declined from 486,100 in September to 466,100 in October 2015, its lowest level since November 2007.


Unemployment Rates (%)*
*Data are preliminary and subject to change, based on standard procedures outlined by the U.S. Bureau of Labor Statistics.
 October 2015*September 2015October 2014
United States 5.0 5.1 5.7
New York State 4.8 5.1 5.9
New York City 4.8 5.2 6.6
NYS, outside NYC 4.9 5.0 5.4

 

U.S., New York State and Metro Areas: October 2014 - October 2015

1) Jobs data (not seasonally adjusted):

The table that follows 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 October 2014 and October 2015.


Change in Total Nonfarm and Private Sector Jobs
October 2014 – October 2015
 Change in
Total Nonfarm Jobs:

(private sector + government)
Change in
Private Sector Jobs:
 
Net
%
Net
%
United States +2,739,000 +1.9% +2,637,000 +2.2%
New York State +164,000 +1.8% +168,600 +2.2%
 
    Albany-Schenectady-Troy +5,500 +1.2% +5,400 +1.5%
    Binghamton -1,500 -1.4% -1,400 -1.7%
    Buffalo-Niagara Falls +7,700 +1.4% +8,700 +1.8%
    Dutchess-Putnam -2,900 -2.0% -2,600 -2.2%
    Elmira -200 -0.5% -200 -0.6%
    Glens Falls +600 +1.1% +700 +1.6%
    Ithaca -1,600 -2.2% -1,400 -2.2%
    Kingston 0 0.0% +200 +0.4%
    Nassau-Suffolk +24,600 +1.9% +26,100 +2.4%
    New York City +95,900 +2.3% +94,000 +2.6%
    Orange-Rockland-Westchester +10,800 +1.6% +11,500 +2.0%
    Rochester +7,600 +1.4% +8,400 +1.9%
    Syracuse +2,500 +0.8% +2,900 +1.1%
    Utica-Rome +1,300 +1.0% +1,500 +1.5%
    Watertown-Fort Drum -800 -1.9% -900 -2.9%
    Non-metro Counties -800 -0.2% -900 -0.2%

 

Job highlights since October 2014:

  • Over the past year, private sector jobs grew most rapidly in these metro areas in New York State:
    • New York City (+2.6%)
    • Nassau-Suffolk (+2.4%)
    • Orange-Rockland-Westchester (+2.0%)
    • Rochester (+1.9%)
    • Buffalo-Niagara Falls (+1.8%)
  • Five metro areas in the state – Watertown-Fort Drum (-2.9%), Dutchess-Putnam (-2.2%), Ithaca (-2.2%), Binghamton (-1.7%) and Elmira (-0.6%) – lost private sector jobs between October 2014 and October 2015.

Change in jobs by major industry sector: October 2014 – October 2015

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 October 2014 and October 2015.

Change in Jobs by Major Industry Sector
October 2014 – October 2015

*Educational and health services is in the private sector.
Government includes public education and public health services.
Sectors With Job Gains:
Educational & Health Services* +71,000
Professional & Business Services +26,400
Construction +21,500
Leisure & Hospitality +21,200
Trade, Transportation & Utilities +14,900
Other Services +9,800
Information +1,900
Financial Activities +1,700
Manufacturing +600
 
Sectors With Job Losses:
Government* -4,600
Natural Resources & Mining -400

 

Highlights among NYS sectors with job gains since October 2014:

  • Private educational and health services added the most jobs (+71,000) of any major industry sector over the past year. Sector job gains were mostly in health care and social assistance (+59,500), especially ambulatory health care services (+37,200).
  • Professional and business services had the second largest increase in jobs (+26,400) between October 2014 and October 2015. Over the past year, sector job gains were mostly in professional, scientific and technical services (+14,100) and in administrative and support services (+11,600).
  • The third largest employment increase over the past year occurred in construction (+21,500), with sector gains centered in specialty trade contractors (+13,900).

Highlights among NYS sectors with job losses since October 2014:

  • Over the past 12 months, government lost more jobs (-4,600) than any other major industry sector in New York State. Losses at the local (-4,100) and state (-700) levels offset a gain in federal jobs (+200).
  • Natural resources and mining had the second largest decrease in jobs (-400) over the past year.

 

Unemployment Insurance Benefits: October 2015

1) Regular Unemployment Insurance (UI):

For New York State, during the week that included October 12, 2015, there were 109,614 people (including 99,608 who live in the State) who received benefits under the regular Unemployment Insurance (UI) program.

New York State residents who received Unemployment Insurance benefits made up 21% of the total unemployed in the State in October 2015.

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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