More Than 40 Percent of Jobs Gained During 2003-2008 Expansion Are Erased
New York State’s unemployment rate, after seasonal adjustment, was unchanged at 7.8 percent in March 2009. New York City’s rate also held steady at 8.1 percent in March 2009. The rate outside of New York City was 7.6 percent in March 2009, the same as in February. The number of unemployed New Yorkers climbed to 765,900 in March, its highest level since September 1992.
“Although New York State's unemployment rate held steady in March 2009, current evidence suggests that the national economic downturn will likely continue to negatively affect the state’s labor market in the coming months,” said Peter A. Neenan, Ph.D., director of the Division of Research and Statistics.
Note: When comparing different months, seasonally adjusted data provide the most valid comparison, for example, February 2009 versus March 2009. Non-seasonally adjusted data are valuable in year-to-year comparisons of the same month, for example, March 2008 versus March 2009.
1.) Unemployment rates (seasonally adjusted):
New York State’s unemployment rate, after seasonal adjustment, was unchanged at 7.8 percent in March 2009. In March 2008, the state’s rate was 4.8 percent. The U.S. rate was 8.5 percent in March 2009, up from 8.1 percent in February. In March 2008, the nation’s rate was 5.1 percent.
In New York City, the rate held steady at 8.1 percent in March 2009. In March 2008, the city’s rate was 4.6 percent. The rate for New York State outside of New York City remained the same at 7.6 percent in March 2009. In March 2008, the rate outside of New York City was 5.0 percent.
| Unemployment Rates* (seasonally adjusted) | |||
| March 2009 | February 2009 | March 2008 | |
| New York State | 7.8 | 7.8 | 4.8 |
| United States | 8.5 | 8.1 | 5.1 |
| New York City | 8.1 | 8.1 | 4.6 |
| NYS, excluding NYC | 7.6 | 7.6 | 5.0 |
| *Data are preliminary and subject to change. | |||
2.) Unemployment Insurance and EUC08 data (not seasonally adjusted):
Under the Regular Unemployment Insurance (Regular UI) program, individuals who are involuntarily unemployed through no fault of their own may be eligible for up to 26 weeks of benefits as long as they remain ready, willing and able to work, and are actively seeking employment.
Under the temporary federal Emergency Unemployment Compensation (EUC08) program, enacted on June 30, 2008, as part of the Economic Stimulus Act of 2008, claimants who have exhausted their 26 weeks of regular benefits are eligible to receive up to 13 weeks of additional benefits. Federal legislation signed into law on November 21, 2008, added up to 20 more weeks to the original 13 weeks of EUC08 benefits. Currently, beneficiaries in New York State may receive up to 33 weeks of EUC08 benefits in addition to the 26 weeks of regular UI benefits. Monthly beneficiaries data for these two programs are noted below.
| Program and Data Item | March 2009 | February 2009 | March 2008 | |||
| Regular UI, monthly beneficiaries |
446,315
|
409,509
|
242,378
|
|||
| Regular UI, year-to-date beneficiaries |
576,380
|
485,746
|
343,570
|
|||
| EUC08, monthly beneficiaries |
171,868
|
146,632
|
NA
|
|||
| EUC08, year-to-date beneficiaries |
197,188
|
169,642
|
NA
|
|||
3.) Job data (seasonally adjusted):
New York State and the nation, February 2009 - March 2009:
The number of private sector jobs in New York State decreased by 33,000 or 0.5 percent, to 7,138,100 in March 2009, on a seasonally adjusted basis. Nationally, the number of private sector jobs decreased by 0.6 percent over the same period. After seasonal adjustment, the number of nonfarm jobs in the state decreased over the month by 34,100, or 0.4 percent, to 8,640,400 in March 2009. Nationally, the number of seasonally adjusted nonfarm jobs decreased by 0.5 percent.
4.) Nonfarm jobs since March 2008 (not seasonally adjusted):| Total nonfarm jobs | -165,900 | ||
| Private sector jobs | -161,600 |
Since March 2008, the number of nonfarm jobs (private plus public sectors) in New York State decreased by 165,900 or 1.9 percent, and the number of private sector jobs decreased by 161,600 or 2.2 percent. Nationally, the number of nonfarm jobs decreased by 3.6 percent and the number of private sector jobs decreased by 4.3 percent between March 2008 and March 2009.
Educational and health services added the largest number of jobs (+30,100) over the March 2008-March 2009 period, with most of the increase in educational services (+16,000). The job count also increased over the year in other services (+1,300).
Trade, transportation and utilities (-51,300) registered the largest drop among declining industries, with sector losses centered in retail trade (-21,900). The second largest employment drop was in manufacturing (-37,000). Manufacturing job losses were largest in durable goods (-25,700). Professional and business services (-36,400) had the third largest employment drop among declining industries, with sector losses centered in employment services (-33,300). Financial activities (-30,200) had the fourth largest job decline, with losses centered in securities, commodity contracts, and related activities (-19,100). Other industries that experienced declines include: construction; information; government; leisure and hospitality; and natural resources and mining.
| Industries with Job Gains: | |||
| Educational & Health Services | +30,100 | ||
| Other Services | +1,300 | ||
| Industries with Job Losses: | |||
| Trade, Transportation & Utilities | -51,300 | ||
| Manufacturing | -37,000 | ||
| Professional & Business Services | -36,400 | ||
| Financial Activities | -30,200 | ||
| Construction | -24,300 | ||
| Information | -9,300 | ||
| Government | -4,300 | ||
| Leisure & Hospitality | -4,300 | ||
| Natural Resources & Mining | -200 | ||
| Total nonfarm jobs | +14,900 | ||
| Private sector jobs | +12,800 |
In March 2009, New York State had 8,554,400 total nonfarm jobs, including 7,038,900 private sector jobs. From February 2009 to March 2009, the number of nonfarm jobs increased by 14,900 and the number of private sector jobs increased by 12,800. On average, in the previous ten years, the number of nonfarm jobs in New York increased by 54,900 from February to March, and the number of private sector jobs increased by 49,000.
The not seasonally adjusted job count increased over the month in educational and health services (+8,400), leisure and hospitality (+7,400), professional and business services (+4,900), government (+2,100), construction (+1,400), and natural resources and mining (+200). The job count in manufacturing (-3,700), information (-3,200), financial activities (-1,600), trade, transportation and utilities (-900), and other services (-100) decreased over the month.
6.) New York State nonfarm job highlights since February 2009 (not seasonally adjusted):
Educational and health services
Sector employment increased over the month, with educational services adding the most jobs in March.
Leisure and hospitality
Leisure and hospitality employment increased over the month, with hiring focused in food services and drinking places.
Professional and business services
Over-the-month job gains in professional and business services were centered in administrative and support services.
Government
Almost all of the over-the-month increase in government employment was due to expansion at the local government level.
Construction
Construction sector employment increased due to seasonal gains in specialty trade contractors.
Natural resource and mining
Natural resources and mining employment increased seasonally in March.
Other services
This sector’s over-the-month employment loss was centered in religious, grantmaking, civic, professional and similar organizations.
Trade, transportation and utilities
Most of this month's employment decrease reflected losses in transportation and warehousing.
Financial activities
Employment losses in financial activities were largest in securities, commodity contracts and related activities.
Information
Publishing industries (except Internet) accounted for March’s loss in sector employment.
Manufacturing
Manufacturing’s job count dropped over the month due to losses in durable goods, particularly in motor vehicle parts manufacturing.
7.) Metropolitan Areas:
Job Growth and Unemployment Rates (not seasonally adjusted):
Albany-Schenectady-Troy: Since March 2008, the number of nonfarm jobs has decreased by 7,300, or 1.6 percent, and the number of private sector jobs has decreased by 5,900, or 1.7 percent. The area’s unemployment rate was 7.3 percent in March 2009, compared with 7.6 in February and 5.0 in March 2008.
Binghamton: Since March 2008, the number of nonfarm jobs has decreased by 2,000, or 1.8 percent, and the number of private sector jobs has decreased by 2,100, or 2.4 percent. The area’s unemployment rate was 8.6 percent in March 2009, compared with 9.0 in February and 5.7 in March 2008.
Buffalo-Niagara Falls: Since March 2008, the number of nonfarm jobs has decreased by 11,100, or 2.0 percent, and the number of private sector jobs has decreased by 11,200, or 2.5 percent. The area’s unemployment rate was 9.2 percent in March 2009, compared with 9.6 in February and 6.1 in March 2008.
Glens Falls: Since March 2008, the number of nonfarm jobs has decreased by 300, or 0.6 percent, and the number of private sector jobs has decreased by 200, or 0.5 percent. The area’s unemployment rate was 9.4 percent in March 2009, compared with 9.9 in February and 6.3 in March 2008.
Ithaca: Since March 2008, the number of nonfarm jobs has decreased by 100, or 0.2 percent, and the number of private sector jobs has decreased by 100, or 0.2 percent. The area’s unemployment rate was 5.7 percent in March 2009, compared with 5.9 in February and 3.8 in March 2008.
Kingston: Since March 2008, the number of nonfarm jobs has decreased by 1,400, or 2.2 percent, and the number of private sector jobs has decreased by 1,500, or 3.2 percent. The area’s unemployment rate was 7.8 percent in March 2009, compared with 8.3 in February and 5.2 in March 2008.
Nassau-Suffolk: Since March 2008, the number of nonfarm jobs has decreased by 27,900, or 2.2 percent, and the number of private sector jobs has decreased by 27,400, or 2.6 percent. The area’s unemployment rate was 7.3 percent in March 2009, compared with 7.5 in February and 4.5 in March 2008.
New York City (five boroughs): Since March 2008, the number of nonfarm jobs has decreased by 86,400, or 2.3 percent, and the number of private sector jobs has decreased by 82,600, or 2.6 percent. The area’s unemployment rate was 8.2 percent in March 2009, compared with 8.4 in February and 4.6 in March 2008.
Poughkeepsie-Newburgh-Middletown: Since March 2008, the number of nonfarm jobs has decreased by 3,500, or 1.4 percent, and the number of private sector jobs has decreased by 3,900, or 2.0 percent. The area’s unemployment rate was 7.8 percent in March 2009, compared with 8.1 in February and 5.0 in March 2008.
Putnam-Rockland-Westchester: Since March 2008, the number of nonfarm jobs has decreased by 7,700, or 1.3 percent, and the number of private sector jobs has decreased by 7,800, or 1.6 percent. The area’s unemployment rate was 7.0 percent in March 2009, compared with 7.3 in February and 4.4 in March 2008.
Rochester: Since March 2008, the number of nonfarm jobs has decreased by 2,200, or 0.4 percent, and the number of private sector jobs has decreased by 2,700, or 0.6 percent. The area’s unemployment rate was 8.3 percent in March 2009, compared with 8.5 in February and 5.6 in March 2008.
Syracuse: Since March 2008, the number of nonfarm jobs has decreased by 2,400, or 0.7 percent, and the number of private sector jobs has decreased by 3,000, or 1.1 percent. The area’s unemployment rate was 8.5 percent in March 2009, compared with 8.9 in February and 5.7 in March 2008.
Utica-Rome: Since March 2008, the number of nonfarm jobs has decreased by 400, or 0.3 percent, and the number of private sector jobs has decreased by 600, or 0.6 percent. The area’s unemployment rate was 8.3 percent in March 2009, compared with 8.8 in February and 5.9 in March 2008.
Note: 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. Jobs data for New York are obtained from a survey of 18,000 business establishments. Jobs data exclude agricultural workers, the self-employed, unpaid family workers and domestic workers in private households.
See State and Area Unemployment Rates