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New York State Department of Labor

NYS Economy Adds 8,600 Private Sector Jobs in March 2015
as Unemployment Rate Drops to 5.7%

Lowest Unemployment Rate Since August 2008

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Albany, NY (April 16, 2015) -

In March 2015, New York State’s private sector job count increased by 8,600, or 0.1 percent, to 7,753,700, reaching a new all-time high. Since the beginning of Governor Andrew M. Cuomo’s administration, the state’s economy has added 643,400 private sector jobs and experienced employment growth in 45 of the past 51 months.

The statewide unemployment rate in New York declined from 5.8% to 5.7% in March 2015, its lowest level since August 2008, according to preliminary figures released today by the New York State Department of Labor. New York City’s unemployment rate remained unchanged over the month at 6.6%.

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 partly based 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 added 8,600 private sector jobs in March 2015, keeping pace with the nation as a whole. We again reached an all-time high private sector job count. In addition, the state’s unemployment rate dropped to its lowest level since August 2008,” 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, March 2014 versus March 2015.

 

1) Jobs data (seasonally adjusted):

U.S. and New York State, February - March 2015

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 February-March 2015.

Change in Total Nonfarm and Private Sector Jobs,
February 2015 – March 2015
  Change in
Total Nonfarm Jobs:

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

Net
%
Net
%
United States +126,000 +0.1% +129,000 +0.1%
New York State +8,200 +0.1% +8,600 +0.1%

 

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. The statewide unemployment rate decreased from 5.8% to 5.7% in March 2015. The number of unemployed New Yorkers decreased over the month – from 554,100 in February 2015 to 548,300 in March 2015.


Unemployment Rates (%)*
*Data are preliminary and subject to change, based on standard procedures outlined by the U.S. Bureau of Labor Statistics.
  March 2015* February 2015 March 2014
United States 5.5 5.5 6.6
New York State 5.7 5.8 6.6
New York City 6.6 6.6 7.8
NYS, outside NYC 5.1 5.2 5.8

 

3) Jobs data (not seasonally adjusted):

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

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 March 2014 and March 2015.


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

(private sector + government)
Change in
Private Sector Jobs:
 
Net
%
Net
%
United States +3,112,000 +2.3% +3,046,000 +2.6%
New York State +149,100 +1.7% +146,300 +1.9%
 
    Albany-Schenectady-Troy +6,900 +1.5% +6,200 +1.8%
    Binghamton +500 +0.5% +400 +0.5%
    Buffalo-Niagara Falls +7,900 +1.5% +8,500 +1.9%
    Dutchess-Putnam -200 -0.1% +200 +0.2%
    Elmira +300 +0.8% +400 +1.2%
    Glens Falls +500 +1.0% +400 +1.0%
    Ithaca -1,300 -1.8% -800 -1.3%
    Kingston +1,200 +2.0% +1,000 +2.2%
    Nassau-Suffolk +13,400 +1.1% +12,600 +1.2%
    New York City +107,300 +2.7% +104,200 +3.0%
    Orange-Rockland-Westchester +5,200 +0.8% +5,500 +1.0%
    Rochester +3,800 +0.7% +4,000 +0.9%
    Syracuse +2,300 +0.7% +2,400 +0.9%
    Utica-Rome +1,900 +1.5% +1,900 +2.0%
    Watertown-Fort Drum +400 +1.0% +400 +1.4%
    Non-metro Counties +700 +0.1% +600 +0.2%

 

Job highlights since March 2014:

  • Over the past year, private sector jobs grew most rapidly in these metro areas:
    • New York City (+3.0%)
    • Kingston (+2.2%)
    • Utica-Rome (+2.0%)
    • Buffalo-Niagara Falls (+1.9%)
    • Albany-Schenectady-Troy (+1.8%)
    • Watertown-Fort Drum (+1.4%)
    • Elmira (+1.2%)
    • Nassau-Suffolk (+1.2%)
  • Ithaca (-1.3%) was the only metro area in the state to experience a decline in private sector jobs between March 2014 and March 2015.

4) Jobs data (not seasonally adjusted):

Change in jobs by major industry sector, March 2014 – March 2015

The table below compares the over-the-year change in jobs by major industry sector in New York State occurring between March 2014 and March 2015.

Change in Jobs by Major Industry Sector,
March 2014 – March 2015 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* +50,000
Professional & Business Services +32,000
Trade, Transportation & Utilities +22,800
Leisure & Hospitality +17,100
Other Services +11,200
Financial Activities +8,100
Construction +6,200
Government* +2,800
Information +900
 
Sectors With Job Losses:
Manufacturing -1,800
Natural Resources & Mining -200

 

Highlights among NYS sectors with job gains since March 2014:

  • Private educational and health services added the most jobs (+50,000) of any major industry sector over the past year. Over the past year, sector job gains were mostly in health care and social assistance (+42,900), especially ambulatory health care services (+24,500).
  • Professional and business services had the second largest increase in jobs (+32,000) between March 2014 and March 2015. Over the past year, sector job gains were mostly in professional, scientific and technical services (+22,300), especially computer systems design and related services (+9,000).
  • The third largest employment increase over the past year was registered in trade, transportation and utilities (+22,800), with sector gains centered in wholesale and retail trade (+18,200).

Highlights among NYS sectors with job losses since March 2014:

  • Over the past 12 months, manufacturing lost more jobs (-1,800) than any other major industry sector in the state. Sector losses were centered in nondurable goods (-2,000), especially apparel manufacturing (-1,100).
  • Natural resources and mining also lost jobs (-200) over the past year.

 

5) Regular Unemployment Insurance (UI):

For New York State, during the week that included March 12, 2015, there were 177,335 people (including 163,880 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 30% of the total unemployed in the state in March 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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