Higher Private Sector Job Count and Lower Annual Unemployment Rate
“New York State’s economic expansion continued in 2006. Our latest revised data show that the state gained more than 81,000 private sector jobs in 2006, with the Upstate and Downstate regions both adding jobs over the year. In addition, New York’s average unemployment rate was 4.5 percent in 2006, down from 5.0 percent in 2005, and below the comparable U.S. figure in 2006,” said David J. Trzaskos, director of the Division of Research and Statistics.
Job data are revised at the end of each year for all states and the nation as more comprehensive information, or benchmarks, become available from employers’ unemployment insurance tax records. The benchmark process resulted in revisions to all statewide not-seasonally-adjusted data series from April 2005 forward. March 2006 is the “reference month” and is the latest month for which employment estimates will not be revised in the future. Estimates for April 2006 and later are still subject to revision in the next round of annual revisions in early 2008.
The recent revisions resulted in relatively small adjustments to New York State’s annual average private sector job counts for 2005 and 2006; there were 3,600 more private sector jobs in 2005 than initially estimated and, to date, there are 15,000 more private sector jobs in 2006 than first estimated.
Monthly resident labor force data, including unemployment rates, are also revised at the end of each year. The new data show that the annual average unemployment rate in New York State dropped over the year from 5.0 percent in 2005 to 4.5 percent in 2006. Like the nation as a whole, this was the state’s third consecutive year-over-year drop in the annual average unemployment rate.
Job data for metropolitan areas (not seasonally adjusted): 2005-2006
The Downstate and Upstate regions of New York both experienced improved private sector job growth in 2006 compared with 2005. Within the 10-county Downstate region, New York City and the suburban counties (Long Island and Putnam, Rockland, Westchester counties) both saw better performance. In the 52-county Upstate region, combined private sector job growth for all metropolitan areas slowed slightly between 2005 and 2006, while counties outside of metro areas experienced significantly improved private sector job growth in 2006 compared with 2005.
Eight of the state’s 14 metro areas experienced stronger private sector job performance in 2006 than in 2005. Improvement was especially notable in Binghamton, Elmira and Kingston. Binghamton’s turnaround was particularly dramatic, as it went from a job loss of 0.5 percent in 2005 to a gain of 1.4 percent in 2006. Kingston and Elmira, which both experienced flat private sector job growth in 2005, were among the fastest growing metro areas in 2006.
Among metropolitan areas, the annual average private sector job count increased in eleven areas, decreased in two and was unchanged in one between 2005 and 2006. The private sector job count increased most rapidly in New York City (+2.0 percent), Kingston (+1.6 percent), Binghamton (+1.4 percent) and Elmira (+1.2 percent), and declined in Buffalo-Niagara Falls (-0.2 percent) and Utica-Rome (-0.2 percent) over the same period.
|
Percent Change in Annual Average Job Counts: |
|||||||
|
United States, New York State, Regions, and Metropolitan Areas |
|||||||
|
2004-2005 and 2005-2006 |
|||||||
|
|
|
|
|
|
|
|
|
|
|
Total Nonfarm |
|
Private Sector |
||||
|
|
2004- 2005 |
|
2005- 2006 |
|
2004- 2005 |
|
2005- 2006 |
|
|
|
|
|
|
|
|
|
|
United States |
1.7% |
|
1.8% |
|
1.9% |
|
2.0% |
|
New York State |
0.9% |
|
0.9% |
|
1.0% |
|
1.2% |
|
Regions |
|
|
|
|
|
|
|
|
Downstate (10-county area) |
1.1% |
|
1.3% |
|
1.3% |
|
1.6% |
|
New York City |
1.5% |
|
1.7% |
|
1.7% |
|
2.0% |
|
Suburban Counties |
0.5% |
|
0.6% |
|
0.4% |
|
0.7% |
|
Upstate (52-county area) |
0.3% |
|
0.2% |
|
0.3% |
|
0.4% |
|
Metro Areas |
0.4% |
|
0.1% |
|
0.4% |
|
0.3% |
|
Non-metro Counties |
0.3% |
|
0.5% |
|
0.0% |
|
0.7% |
|
Metropolitan Areas |
|
|
|
|
|
|
|
|
Albany-Schenectady-Troy |
0.5% |
|
0.4% |
|
0.6% |
|
0.7% |
|
Binghamton |
-0.3% |
|
1.0% |
|
-0.5% |
|
1.4% |
|
Buffalo-Niagara Falls |
-0.2% |
|
-0.2% |
|
0.0% |
|
-0.2% |
|
Elmira |
0.0% |
|
0.8% |
|
0.0% |
|
1.2% |
|
Glens Falls |
0.4% |
|
0.9% |
|
0.7% |
|
0.7% |
|
Ithaca |
0.8% |
|
0.6% |
|
0.9% |
|
1.1% |
|
Kingston |
-0.2% |
|
1.1% |
|
0.0% |
|
1.6% |
|
Nassau-Suffolk* |
0.5% |
|
0.7% |
|
0.4% |
|
0.8% |
|
New York City |
1.5% |
|
1.7% |
|
1.7% |
|
2.0% |
|
Poughkeepsie-Newburgh-Middletown |
0.9% |
|
0.7% |
|
0.8% |
|
0.7% |
|
Putnam-Rockland-Westchester* |
0.4% |
|
0.4% |
|
0.6% |
|
0.5% |
|
Rochester |
0.7% |
|
-0.3% |
|
0.6% |
|
0.0% |
|
Syracuse |
0.6% |
|
0.1% |
|
0.6% |
|
0.1% |
|
Utica-Rome |
0.2% |
|
-0.3% |
|
-0.4% |
|
-0.2% |
*Denotes Downstate area
Job data by industry (not seasonally adjusted): 2005-2006
Educational and health services added the most private sector jobs (+30,100) of any industry between 2005 and 2006, with gains centered in health care and social assistance (+19,900). Professional and business services gained 25,800 jobs, due primarily to increases in professional, scientific, and technical services (+21,400). Other industry supersectors adding jobs from 2005 to 2006 (in descending order) included: financial activities; construction; leisure and hospitality; trade, transportation, and utilities; other services; natural resources and mining; and information.
Manufacturing, which lost 13,000 jobs between 2005 and 2006, was the only private industry to lose jobs over the year. Manufacturing declines were centered in non-durable goods (-9,800), specifically apparel manufacturing (-3,800). The job loss in durable goods (-3,300) was concentrated in transportation equipment manufacturing (-1,900). Government also lost jobs over the same period (-2,400). (Statewide industry job data for 2005 and 2006 are presented in the table below.)
|
Change in Annual Average Jobs by Industry: |
||||
|
New York State, 2005-2006 |
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|
(data in thousands) |
||||
|
|
Annual Average Jobs |
|
|
|
|
|
2005 |
2006 |
Net Change |
Percent Change |
|
Total Nonfarm |
8,533.3 |
8,612.1 |
78.8 |
0.9% |
|
Private Sector |
7,044.1 |
7,125.2 |
81.1 |
1.2% |
|
Natural Resources & Mining |
5.9 |
6.2 |
0.3 |
5.1% |
|
Construction |
325.3 |
336.5 |
11.2 |
3.4% |
|
Manufacturing |
580.9 |
567.9 |
-13.0 |
-2.2% |
|
Durable Goods |
334.6 |
331.3 |
-3.3 |
-1.0% |
|
Nondurable Goods |
246.4 |
236.6 |
-9.8 |
-4.0% |
|
Trade, Trans. & Utilities |
1,500.1 |
1,505.9 |
5.8 |
0.4% |
|
Wholesale Trade |
353.4 |
353.7 |
0.3 |
0.1% |
|
Retail Trade |
878.9 |
880.9 |
2.0 |
0.2% |
|
Transp., Warehousing & Utilities |
267.8 |
271.3 |
3.5 |
1.3% |
|
Information |
269.7 |
269.9 |
0.2 |
0.1% |
|
Financial Activities |
713.3 |
726.2 |
12.9 |
1.8% |
|
Professional & Business Services |
1,082.7 |
1,108.5 |
25.8 |
2.4% |
|
Educational & Health Services |
1,539.7 |
1,569.8 |
30.1 |
2.0% |
|
Educational Services |
347.3 |
357.4 |
10.1 |
2.9% |
|
Health Care & Social Assistance |
1,192.4 |
1,212.3 |
19.9 |
1.7% |
|
Leisure & Hospitality |
670.5 |
677.9 |
7.4 |
1.1% |
|
Other Services |
356.0 |
356.6 |
0.6 |
0.2% |
|
Government |
1,489.3 |
1,486.9 |
-2.4 |
-0.2% |
NY STATE ADDED 16,900 PRIVATE SECTOR JOBS IN JANUARY 2007
New York State’s private sector job count increased over the month by 16,900, or 0.2 percent, to 7,181,300 in January 2007 (seasonally adjusted), the State Labor Department reported today. Since the beginning of New York’s current economic expansion in August 2003, the state has added 277,500 private sector jobs.
New York State’s unemployment rate, after seasonal adjustment, increased from 4.1 percent in December 2006 to 4.3 percent in January 2007. The nation’s rate also increased over the same period, from 4.5 percent to 4.6 percent. New York City’s seasonally adjusted unemployment rate increased from 4.4 percent in December 2006 to 4.9 percent in January 2007.
From January 2006 to January 2007, the number of private sector jobs in New York State increased by 100,500, or 1.5 percent, to 7,026,700 (not seasonally adjusted). Over the same period, the nation’s private sector job count increased by 1.7 percent.
Note: When comparing different months, seasonally adjusted data provide the most valid comparison, for example, December 2006 versus January 2007. Non-seasonally adjusted data are valuable in year-to-year comparisons of the same month, for example, January 2006 versus January 2007.
1) Unemployment rates (seasonally adjusted):
New York State’s unemployment rate, after seasonal adjustment, was 4.3 percent in January 2007, up from 4.1 percent in December 2006. In January 2006, the state’s rate was 4.8 percent. The nation’s rate was 4.6 percent in January 2007, up from 4.5 percent in December. In January 2006, the nation’s rate was 4.7 percent. In New York City, the unemployment rate was 4.9 percent in January 2007, up from 4.4 percent in December. In January 2006, the city’s rate was 5.5 percent. The rate for New York State outside of New York City was 4.0 percent in January 2007, up from 3.9 percent in December.
Unemployment Rates (seasonally adjusted)
|
|
January 2007 |
December 2006 |
January 2006 |
|
New York State |
4.3 |
4.1 |
4.8 |
|
United States |
4.6 |
4.5 |
4.7 |
|
New York City |
4.9 |
4.4 |
5.5 |
|
NYS, excluding NYC |
4.0 |
3.9 |
4.3 |
2) Job data (seasonally adjusted):
New York State and the nation, December 2006 - January 2007:
The number of private sector jobs in New York State increased by 16,900, or 0.2 percent, to 7,181,300 in January 2007, on a seasonally adjusted basis. Nationally, the number of private sector jobs increased by 0.1 percent over the same period. After seasonal adjustment, the number of nonfarm jobs in the state increased over the month by 15,600, or 0.2 percent, to 8,670,700 in January 2007. Nationally, the number of seasonally adjusted nonfarm jobs increased over the month by 0.1 percent.
3) Nonfarm jobs since January 2006 (not seasonally adjusted):
Total nonfarm jobs +105,400
Private sector jobs +100,500
Since January 2006, the number of nonfarm jobs in New York State increased by 105,400, or 1.3 percent, and the number of private sector jobs increased by 100,500, or 1.5 percent. Nationally, the number of nonfarm jobs increased by 1.6 percent and the number of private sector jobs increased by 1.7 percent between January 2006 and January 2007.
Educational and health services added the largest number of jobs (+32,700) over the January 2006-January 2007 period, with most of the increase in health care and social assistance (+24,500). Employment also increased in professional and business services; financial activities; leisure and hospitality; trade, transportation and utilities; construction; government; other services; and natural resources and mining.
Manufacturing (-13,400) led declining industries, with losses largest in non-durable goods (-12,300). Non-durable losses were centered in chemical manufacturing (-5,700) and apparel manufacturing (-3,800). Employment also declined in information.
|
Industries With Job Gains: |
|
|
Educational & Health Services |
+32,700 |
|
Professional & Business Services |
+27,700 |
|
Financial Activities |
+13,800 |
|
Leisure & Hospitality |
+13,000 |
|
Trade, Transportation & Utilities |
+11,300 |
|
Construction |
+11,100 |
|
Government |
+4,900 |
|
Other Services |
+4,400 |
|
Natural Resources & Mining |
+300 |
|
|
|
|
Industries With Job Losses: |
|
|
Manufacturing |
-13,400 |
|
Information |
-400 |
4) Nonfarm jobs since December 2006 (not seasonally adjusted):
Total nonfarm jobs -265,700
Private sector jobs -231,600
In January 2007, New York State had 8,506,700 total nonfarm jobs, including 7,026,700 private sector jobs. From December 2006 to January 2007, the number of nonfarm jobs decreased by 265,700 and the number of private sector jobs decreased by 231,600. Typically, both the total nonfarm and the private sector job counts decrease between December and January. On average, in the previous ten years, the number of nonfarm jobs in New York decreased by 295,100 from December to January, and the number of private sector jobs decreased by 262,300.
The job count (not seasonally adjusted) decreased in all major sectors between December 2006 and January 2007. Trade, transportation and utilities (-56,800), educational and health services (-46,900), leisure and hospitality (-39,700), government (-34,100), professional and business services (-31,700), and construction (-25,800) lost the most jobs. Also declining over the month were manufacturing (-9,700), other services (-8,400), financial activities (-6,300), information (-5,500), and natural resources and mining (-800).
5) New York State nonfarm job highlights since December 2006 (not seasonally adjusted):
Trade, transportation and utilities
Most of this month's employment decrease reflected seasonal losses in retail trade, particularly in general merchandise stores and clothing and clothing accessories stores.
Educational and health services
Sector employment decreased over the month due mainly to seasonal losses at colleges, universities and professional schools.
Leisure and hospitality
Leisure and hospitality employment declines were centered in accommodation and food services, particularly food services and drinking places.
Government
Seasonal decreases at public elementary and secondary schools, part of the local government sector, accounted for most of the over-the-month losses in government jobs.
Professional and business services
Losses in professional and business services were centered in administrative and support services, specifically employment services.
Construction
Construction sector employment decreased seasonally, especially in specialty trade contractors.
Manufacturing
Manufacturing employment decreased over the month, with losses in both durable and non-durable goods. Non-durable losses were centered in apparel manufacturing, while durable losses were largest in transportation equipment manufacturing.
Other services
Over-the-month job losses were centered in religious, grantmaking, civic, professional and similar organizations.
Financial activities
Losses in finance and insurance and in real estate and rental and leasing contributed to an over-the-month employment drop in financial activities.
Information
This month’s loss in information sector employment was focused in motion picture and sound recording.
Natural resources and mining
Natural resources and mining sector employment dropped seasonally.
6) Metropolitan Areas:
Job Growth and Unemployment Rates (not seasonally adjusted):
Albany-Schenectady-Troy: Since January 2006, the number of nonfarm jobs has increased by 2,100, or 0.5 percent, and the number of private sector jobs has increased by 2,900, or 0.9 percent. The area’s unemployment rate was 4.4 percent in January 2007, compared with 3.4 in December and 4.3 in January 2006.
Binghamton: Since January 2006, the number of nonfarm jobs has increased by 1,300, or 1.2 percent, and the number of private sector jobs has increased by 1,300, or 1.5 percent. The area’s unemployment rate was 5.1 percent in January 2007, compared with 4.0 in December and 5.4 in January 2006.
Buffalo-Niagara Falls: Since January 2006, the number of nonfarm jobs has increased by 4,500, or 0.8 percent, and the number of private sector jobs has increased by 2,300, or 0.5 percent. The area’s unemployment rate was 5.4 percent in January 2007, compared with 4.5 in December and 5.7 in January 2006.
Elmira: Since January 2006, the number of nonfarm jobs has decreased by 500, or 1.2 percent, and the number of private sector jobs has decreased by 300, or 0.9 percent. The area’s unemployment rate was 5.3 percent in January 2006, compared with 4.3 in December and 5.3 in January 2006.
Glens Falls: Since January 2006, the number of nonfarm jobs has increased by 1,300, or 2.5 percent, and the number of private sector jobs has increased by 900, or 2.2 percent. The area’s unemployment rate was 5.4 percent in January 2007, compared with 4.2 in December and 5.5 in January 2006.
Ithaca: Since January 2006, the number of nonfarm jobs increased by 400, or 0.7 percent, and the number of private sector jobs has increased by 700, or 1.3 percent. The area’s unemployment rate was 3.8 percent in January 2007, compared with 2.9 in December and 3.7 in January 2006.
Kingston: Since January 2006, the number of nonfarm jobs has increased by 1,600, or 2.6 percent, and the number of private sector jobs has increased by 1,400, or 3.0 percent. The area’s unemployment rate was 4.4 percent in January 2007, compared with 3.5 in December and 4.8 in January 2006.
Nassau-Suffolk: Since January 2006, the number of nonfarm jobs has increased by 16,900, or 1.4 percent, and the number of private sector jobs has increased by 15,700, or 1.6 percent. The area’s unemployment rate was 4.1 percent in January 2007, compared with 3.2 in December and 4.3 in January 2006.
New York City (five boroughs): Since January 2006, the number of nonfarm jobs has increased by 59,300, or 1.7 percent, and the number of private sector jobs has increased by 60,600, or 2.0 percent. The area’s unemployment rate was 5.3 percent in January 2007, compared with 4.0 in December and 5.6 in January 2006.
Poughkeepsie-Newburgh-Middletown: Since January 2006, the number of nonfarm jobs has increased by 3,000, or 1.2 percent, and the number of private sector jobs has increased by 2,700, or 1.4 percent. The area’s unemployment rate was 4.3 percent in January 2007, compared with 3.4 in December and 4.4 in January 2006.
Putnam-Rockland-Westchester: Since January 2006, the number of nonfarm jobs has increased by 5,800, or 1.0 percent, and the number of private sector jobs has increased by 4,300, or 0.9 percent. The area’s unemployment rate was 3.9 percent in January 2007, compared with 3.1 in December and 4.1 in January 2006.
Rochester: Since January 2006, the number of nonfarm jobs has increased by 300, or 0.1 percent, and the number of private sector jobs has decreased by 100, or less than 0.1 percent. The area’s unemployment rate was 4.9 percent in January 2007, compared with 3.9 in December and 5.0 in January 2006.
Syracuse: Since January 2006, the number of nonfarm jobs has increased by 800, or 0.3 percent, and the number of private sector jobs has increased by 800, or 0.3 percent. The area’s unemployment rate was 5.1 percent in January 2007, compared with 4.0 in December and 5.3 in January 2006.
Utica-Rome: Since January 2006, the number of nonfarm jobs has increased by 300, or 0.2 percent, and the number of private sector jobs has increased by 200, or 0.2 percent. The area’s unemployment rate was 5.3 percent in January 2007, compared with 4.0 in December and 5.4 in January 2006.
Note: The unemployment rate for New York and every other state is based on statistical 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.
See State and Area Unemployment Rates