For the 12-month period ending in July 2014, private sector employment in the Hudson Valley Region increased by 0.7 percent or 5,400 jobs. Employment gains were strongest in educational and health services (+4,700), followed by leisure and hospitality (+1,100), and trade, transportation and utilities and other services, both up 800 respectively. Job losses were largest in financial activities (-1,000), followed by manufacturing (-700) and information (-500). The government sector shed 2,300 jobs over the year.
Job growth occurred in five of the nine sectors. Two sectors posted year-to-year growth of at least two percent. Educational and health services (+2.6 percent) was the fastest growing sector in the region. Growth in that supersector was most apparent in the Putnam-Rockland-Westchester area, where the sector added 3,200 jobs. It’s important to note that about 80 percent of those jobs are in the healthcare and social assistance sub-component. Meanwhile, job losses in natural resources, mining, and construction, slowed down considerably in July. During the first half of 2014, employment in this sector declined by 3.4 percent. In July 2014, the sector’s over-the-year job loss was a mere 0.2 percent or 100 jobs. This improvement was aided by a surge in Poughkeepsie-Newburgh-Middletown MSA, where the sector grew by 6.0 percent or 600 jobs- it’s largest July year-over-year increase since 2005.
Within the Region, job growth was fastest in the Kingston MSA (+2.2 percent), followed by the Poughkeepsie-Newburgh-Middletown MSA (+1.6 percent) and the Putnam-Rockland-Westchester MSA (0.3 percent). Sullivan County (-1.0 percent) was the only area in the region that experienced a decline in private sector jobs. Regional private sector employment growth continues to lag that of the state (+1.9 percent) and the nation (+2.2 percent).
Special Interest to the Hudson Valley Region:
For more information, please contact:
NYS Department of Labor
120 Bloomingdale Rd., Room 218
White Plains, NY 10605
Phone: (914) 997-8798
Fax: (914) 997-4107
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