Labor Seal NYS Department of Labor                          

Contact Leo Rosales Cell: 518-281-6167 Office: 518-457-5519 Email: leo.rosales@labor.ny.gov www.labor.ny.gov
NY UNEMPLOYMENT RATE AT LOWEST LEVEL SINCE JUNE 2001
NY State's March Private Sector Job Growth Matches Nation's; NYC Unemployment Rate Equals Nation's Rate for First Time Since 1988

Albany, NY (April 21, 2005) - New York's private sector job count increased by 4,900, or 0.1 percent, to 7,012,900 (seasonally adjusted) in March 2005, matching the nation’s rate of growth over the same time period, the State Labor Department reported today.  Since the beginning of New York's economic recovery in August 2003, the state has added more than 105,000 private sector jobs.  

     New York State’s unemployment rate, after seasonal adjustment, was 4.6 percent in March 2005, down from 5.1 percent in February.  This was the state’s lowest rate since June 2001, when the rate was also 4.6 percent.  In addition, for the third consecutive month, the state’s unemployment rate was lower than the nation’s rate, which fell from 5.4 percent in February to 5.2 percent in March.

     In New York City, the seasonally adjusted unemployment rate decreased from 6.1 percent in February to 5.2 percent in March, its lowest level since January 2001, when it was also 5.2 percent. Additionally, the City’s unemployment rate matched the nation’s rate for the first time since September 1988.

        “New York State continues to see signs of an improving labor market.  In March, the state added private sector jobs for the seventh consecutive month, while our seasonally adjusted unemployment rate remained below the nation’s rate for the third consecutive month. Also, this month for the first time in nearly 20 years, New York City’s unemployment rate matched the nation’s rate,” said David J. Trzaskos, director of the Division of Research and Statistics.

Note:  When comparing different months, seasonally adjusted data provide the most valid comparison, for example, February 2005 versus March 2005.  Non-seasonally adjusted data are valuable in year-to-year comparisons of the same month, for example, March 2004 versus March 2005.

1.) Unemployment rates (seasonally adjusted): 

     New York State’s unemployment rate, after seasonal adjustment, was 4.6 percent in March 2005, down from 5.1 percent in February.  In March 2004, the rate was 6.1 percent.  The nation’s rate decreased from 5.4 percent in February to 5.2 percent in March.  In March 2004, the nation's rate was 5.7 percent.  In New York City, the unemployment rate decreased from 6.1 percent in February to 5.2 percent in March.  In March 2004, the city's rate was 7.6 percent.  The rate for New York State outside of New York City was 4.2 percent in March 2005, down from 4.4 percent in February.

Unemployment Rates (seasonally adjusted)

March 2005

February 2005

March 2004

New York State

4.6

5.1

6.1

United States

5.2

5.4

5.7

New York City

5.2

6.1

7.6

NYS, excluding NYC

4.2

4.4

5.2

2.) Job data (seasonally adjusted):

New York State and the nation, February 2005 - March 2005:

        The number of private sector jobs in New York State increased by 4,900, or 0.1 percent, to 7,012,900 in March, on a seasonally adjusted basis.  Nationally, the number of private sector jobs increased by 0.1 percent in March.  Since December 1994, the private sector job count in New York State has increased by 567,800.

        After seasonal adjustment, the number of nonfarm jobs in the state increased over the month by 5,400, or 0.1 percent, to 8,494,900 in March.  Nationally, the number of seasonally adjusted nonfarm jobs increased by 0.1 percent in March.

3.) Nonfarm jobs since March 2004 (not seasonally adjusted):

                                Total                                      +60,100

                                Total private                         +60,200

        Since March 2004, the number of nonfarm jobs in New York State increased by 60,100, or 0.7 percent, and the number of private sector jobs increased by 60,200 or 0.9 percent.  Nationally, the number of nonfarm jobs increased by 1.6 percent, and the number of private sector jobs increased by 1.8 percent between March 2004 and March 2005. 

     Educational and health services added the most nonfarm jobs over the March 2004-March 2005 period, gaining 22,300 jobs.  The sector’s gain was centered in health care and social assistance (+19,400).  Employment also increased in leisure and hospitality; trade, transportation and utilities; professional and business services; financial activities; other services; information; and natural resources and mining.  Manufacturing (-17,000) led declining industries.  Most manufacturing losses were in non-durable goods (-11,000), specifically chemical manufacturing (-5,000) and apparel manufacturing (-4,500), while the decline in durable goods employment was centered in transportation equipment manufacturing (-2,700). Employment also decreased over the year in construction and government.

 Industries With Job Gains:

   Educational & Health Services

  +22,300

   Leisure & Hospitality

+18,400

   Trade, Transportation & Utilities

+13,400

   Professional & Business Services

+10,600

   Financial Activities

+8,800

   Other Services

+3,800

   Information

       +200

   Natural Resources & Mining

       +200

Industries With Job Losses:

    Manufacturing

-17,000

    Construction

-500

    Government

        -100

4.) Nonfarm jobs since February 2005 (not seasonally adjusted): 

                Total                                      +53,900

               Total private                         +47,500

        In March 2005, New York State had 8,424,000 total nonfarm jobs, including 6,923,700 private sector jobs.  From February to March, the number of nonfarm jobs increased by 53,900 and the number of private sector jobs increased by 47,500.  Typically, both the total nonfarm and private sector job counts increase between February and March.  On average, in the previous ten years, the number of nonfarm jobs in New York grew by 60,700 from February to March, and the number of private sector jobs rose by 53,100.

     The job count increased over the month in professional and business services (+10,800), leisure and hospitality (+10,100), educational and health services (+10,000), construction (+6,500), government (+6,400), trade, transportation and utilities (+3,400), other services (+2,300), information (+2,000), financial activities (+1,500) and manufacturing (+700).  

5.) New York State nonfarm job highlights since February 2005 (not seasonally adjusted):

Professional and business services

     Over-the-month hiring was concentrated in administrative and support services, especially employment services.

Leisure and hospitality

     Leisure and hospitality employment increased, with hiring focused in accommodation and food services.

Educational and health services

     Employment increased, with gains in both educational services and health care and social assistance.

Construction

     Construction employment experienced its usual seasonal increase, with most increases in specialty trade contractors.

Government

     Almost all of the increase in government employment was due to expansion at the local government level.

Trade, transportation and utilities

     Employment gains were concentrated in retail and wholesale trade, both of which typically increase between February and March. 

Other Services

     Employment increases were concentrated in religious, grant making, civic, social and similar organizations and in personal and laundry services.

Information    

     Employment in information increased mostly due to hiring in motion picture and sound recording.

Financial Activities

     Employment increased with gains in both real estate and rental and leasing and finance and insurance.

Manufacturing

     Employment increased, with a decline in durable goods more than offset by hiring in non-durable goods manufacturing.

6.) Metropolitan Areas:       

Job Growth and Unemployment Rates (not seasonally adjusted): 

Albany-Schenectady-Troy:  Since March 2004, the number of jobs has increased by 4,000 or 0.9 percent and the number of private sector jobs has increased by 3,400 or 1.0 percent.  The area's unemployment rate was 4.0 percent in March 2005, compared with 4.3 in February and 4.9 in March 2004.

Binghamton:  Since March 2004, the number of jobs has decreased by 300 or 0.3 percent and the number of private sector jobs decreased by 500 or 0.6 percent.  The area's unemployment rate was 5.3 percent in March 2005, compared with 5.7 in February and 6.4 in March 2004.

Buffalo-Niagara Falls:  Since March 2004, the number of jobs has decreased by 2,500 or 0.5 percent and the number of private sector jobs has decreased by 300 or 0.1 percent.  The area's unemployment rate was 5.5 percent in March 2005, compared with 5.9 in February and 6.7 in March 2004.

Elmira:  Since March 2004, the number of jobs has decreased by 600 or 1.5 percent and the number of private sector jobs has decreased by 500 or 1.5 percent.  The area's unemployment rate was 6.0 percent in March 2005, compared with 6.5 in February and 7.4 in March 2004.

Glens Falls:  Since March 2004, the number of jobs has increased by 900 or 1.8 percent and the number of private sector jobs has increased by 1,100 or 2.8 percent.  The area's unemployment rate was 5.1 percent in March 2005, compared with 5.8 in February and 6.3 in March 2004.

Ithaca: Since March 2004, the number of jobs increased by 1,000 or 1.6 percent and the number of private sector jobs has increased by 1,100 or 2.1 percent.  The area's unemployment rate was 3.2 percent in March 2005, compared with 3.3 in February and 4.1 in March 2004.

Kingston: Since March 2004, the number of jobs has increased by 1,400 or 2.2 percent and the number of private sector jobs has increased by 1,200 or 2.5 percent.  The area's unemployment rate was 4.2 percent in March 2005, compared with 4.7 in February and 5.3 in March 2004.

Nassau-Suffolk:  Since March 2004, the number of jobs has increased by 13,600 or 1.1 percent and the number of private sector jobs has increased by 14,100 or 1.4 percent.  The area's unemployment rate was 4.1 percent in March 2005, compared with 4.6 in February and 5.2 in March 2004.

New York City (five boroughs):  Since March 2004, the number of jobs has increased by 25,600 or 0.7 percent and the number of private sector jobs has increased by 28,100 or 0.9 percent.  The area's unemployment rate was 5.3 percent in March 2005, compared with 6.5 in February and 8.0 in March 2004.

Poughkeepsie-Newburgh-Middletown:  Since March 2004, the number of jobs increased by 3,700 or 1.5 percent and the number of private sector jobs increased by 3,700 or 1.9 percent. The area’s unemployment rate was 4.1 percent in March 2005, compared with 4.4 in February and 5.1 in March 2004.

Putnam-Rockland-Westchester:  Since March 2004, the number of jobs has increased by 10,500 or 1.9 percent and the number of private sector jobs has increased by 9,000 or 2.0 percent.  The area’s unemployment rate was 3.7 percent in March 2005, compared with 4.0 in February and 4.7 in March 2004.

Rochester: Since March 2004, the number of jobs has decreased by 4,200 or 0.8 percent and the number of private sector jobs has decreased by 5,000 or 1.2 percent.  The area's unemployment rate was 5.3 percent in March 2005, compared with 5.7 in February and 6.5 in March 2004.

Syracuse: Since March 2004,   the number of jobs has increased by 2,700 or 0.9 percent and the number of private sector jobs has increased by 2,800 or 1.1 percent.  The area's unemployment rate was 5.2 percent in March 2005, compared with 5.6 in February and 6.3 in March 2004.

Utica-Rome: Since March 2004, the number of nonfarm jobs has increased by 1,200 or 0.9 percent and the number of private sector jobs decreased by 200 or 0.2 percent. The area's unemployment rate was 5.4 percent in March 2005, compared with 5.8 in February and 6.5 in March 2004.

Note:  The unemployment rate for New York and every other state is based on regression models specified by the U.S. Bureau of Labor Statistics. 

Job data for New York are obtained from a survey of 18,000 business establishments. Job data exclude agricultural workers, the self-employed, unpaid family workers and domestic workers in private households.

Starting with today’s release, we are including a new section entitled, Labor Market Overview. This new data product provides statewide information on the number of nonfarm jobs by place of work and labor force statistics in easy-to-read charts.  The Labor Market Overview is only available on the Internet-version of this release.

See State and Area Job Data

See State and Area Unemployment Rates

Jobs and Unemployment Fact Sheet

Labor Market Overview