Albany, NY (March 08, 2012) -
New employment data show that New York State's economic recovery is stronger than first estimated. After federal revisions, private sector job gains during the state's recovery, which started in November 2009, totaled 245,400 through December 2011. As of December 2011, the state had recouped 76% of the private sector jobs lost in the 2008-09 recession. By way of comparison, as of December 2011, the nation had recouped 29% of the private sector jobs lost during the U.S. recession. Previously, we estimated that the recovery had added 180,400 private sector jobs through December 2011.
Between 2010 and 2011, New York State's annual average private sector job count grew by 139,400, or 2.0%, to 7,195,300. This was the state's strongest annual private sector job growth since 2000, when it increased by 2.2%. Private sector jobs in the U.S. grew by 1.7% in 2011. At the same time, total nonfarm jobs, including government, in New York State grew by 116,400, or 1.4%, to 8,683,400, while the national number increased by 1.1%.
"Our new figures show that New York State's economic recovery has been more robust than first calculated. We've added back more than 75% of the private sector jobs lost in the recession. In addition, our state's economy outperformed the nation with stronger job growth in 2011," said Bohdan M. Wynnyk, Deputy Director of the Division of Research and Statistics.
Jobs data are revised at the end of each year for all states and the nation, as more complete information comes in from Unemployment Insurance tax records. This process is called "benchmarking." It is federally mandated.
Monthly labor force data, including unemployment rates, are also revised at the end of each year, using methods set by the U. S. Bureau of Labor Statistics. After revision, the average annual unemployment rate in New York State fell from 8.6% in 2010 to 8.2% in 2011. The statewide rate was lower than the comparable rate in the nation in 2011 (8.9%). The revised data also show that the number of unemployed New Yorkers dropped over the year by 50,000 -- from 824,700 in 2010 to 774,700 in 2011.
For more details, see: Annual Benchmark Analysis (opens in new window).
JANUARY 2012 JOB NUMBERS
In January 2012, New York State's private sector job count increased by 45,500, or 0.2%. From the beginning of the state's economic recovery in November 2009 through January 2012, New York has recouped 90%, or 290,800, of the private sector jobs lost during the state's recession in 2008-09.
Note: When comparing different months, seasonally adjusted data provide the most valid comparison; for example, December 2011 versus January 2012. Non-seasonally adjusted data are valuable in year-to-year comparisons of the same month; for example, January 2011 versus January 2012.
1) Unemployment rates (seasonally adjusted):
New York State's unemployment rate increased from 8.2% in December 2011 to 8.3% in January 2012. Over the same time period, the U.S. unemployment rate dropped from 8.5% in December 2011 to 8.3% in January 2012.
|*Data are preliminary and subject to change, based on standard procedures outlined by the U.S. Bureau of Labor Statistics.|
|January 2012*||December 2011||January 2011|
|New York State||8.3||8.2||8.2|
|New York City||9.3||9.1||8.9|
|NYS, outside NYC||7.6||7.5||7.7|
2) Jobs data (seasonally adjusted):
U.S. and New York State, December 2011 - January 2012
The table below compares the over-the-month change in total nonfarm and private sector jobs in the United States and New York State between December 2011 and January 2012.
Total Nonfarm Jobs:
(private sector + government)
Private Sector Jobs:
|New York State||+44,600||+0.5%||+45,500||+0.6%|
3) Jobs data (not seasonally adjusted):
U.S., New York State, Major Regions, and Metro Areas: January 2011 - January 2012
The table below compares the over-the-year change in total nonfarm and private sector jobs in the United States, New York State, the Upstate and Downstate regions, and metro areas in the state between January 2011 and January 2012.
Total Nonfarm Jobs:
(private sector + government)
Private Sector Jobs:
|New York State||+118,100||+1.4%||+120,700||+1.7%|
|Downstate NY (10-co. area)||+94,400||+1.7%||+98,400||+2.1%|
|New York City||+70,700||+1.9%||+71,400||+2.3%|
|Upstate NY (52-co. area)||+22,900||+0.8%||+26,900||+1.1%|
Job highlights since January 2011:
4) Jobs data (not seasonally adjusted):
Change in jobs by major industry sector, January 2011 - January 2012
The table below compares the over-the-year change in jobs by major industry sector in New York State between January 2011 and January 2012.
|*The educational and health services category is in the private sector. Government includes public education and health services.|
|Sectors With Job Gains:|
|Professional & Business Services||+50,600|
|Educational & Health Services*||+31,500|
|Leisure & Hospitality||+21,600|
|Trade, Transportation & Utilities||+19,000|
|Sectors With Job Losses:|
|Natural Resources and Mining||-100|
Highlights among NYS sectors with job gains since January 2011:
Highlights among NYS sectors with job losses since January 2011:
5) Regular Unemployment Insurance (UI), Emergency Unemployment Compensation (EUC08) and Extended Benefits (EB) programs:
During the week that included January 12, 2012, there were 479,753 people (including 439,963 who live in New York State) who received benefits under:
Residents who received benefits under these programs made up 56% of the total unemployed in the state in January 2012.
Currently, unemployment insurance claimants in New York State may receive up to 93 weeks of benefits. In February 2012, Congress passed an extension of EUC and EB through December 2012. However, we expect New York State will no longer be eligible for EB as of this spring. At that time, the maximum number of weeks of benefits will be 73 until September 2012, when new EUC provisions take effect. See the table that follows for the maximum number of weeks available under the new federal regulations.
|Program:||Current||Spring 2012||September 2012||January 2013|
People who file a new claim during the week that begins June 25, 2012 or later are likely to only receive up to 26 weeks of regular UI. We encourage people to use the Department's online Unemployment Insurance calculator to estimate how many weeks they may receive. See the calculator on the State Department of Labor's website or go here: http://www.labor.ny.gov/ui/claimantinfo/UIBenefitsCalculator.shtm
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 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. We survey 18,000 business establishments to get jobs data for New York State by industry. The jobs data do not include agricultural workers, the self-employed, unpaid family workers and domestic workers in private households.