Albany, NY (August 16, 2012) -
Since the beginning of the state's economic recovery in November 2009, New York State's economy has added 346,900 private sector jobs and regained all of the private sector jobs it lost during the recession, the State Labor Department reported today. In comparison, the nation has only regained 44% of the private sector jobs lost during the recession. Overall, the state's private sector job count now stands at 7,331,400.
A labor-management dispute (now resolved) at Consolidated Edison in New York City affected the state's private sector job count during July 2012. According to the U.S. Bureau of Labor Statistics' Employment Situation release on August 3, 2012, the dispute affected 8,500 utility workers. These workers were not counted as employed for the federal payroll survey, which determines the monthly job count. The state's positive trend in private sector job growth would have continued in July if not for the labor-management dispute. Instead, the state's economy lost 4,100 private sector jobs, or 0.1%, due to the effect the dispute had on the reported job count. By comparison, the nation's private sector job count increased by 172,000, or 0.2%.
Since July 2011, New York State's labor force grew by more than 100,000 as people have more confidence in the economy. When more jobseekers enter or re-enter the labor market due to renewed confidence about finding employment, an area's unemployment rate temporarily rises. For the 12-month period ending July 2012, the number of discouraged workers (those not currently looking for work because they believe no jobs are available) in New York State fell 21.6%. The state's unemployment rate was 9.1% in July 2012, up from June 2012's level of 8.9%.
"Growth in our statewide labor force in recent months has contributed to a higher state jobless rate, as more New Yorkers have confidence in the job market. The latest job statistics show that more than 100,000 New Yorkers entered the labor force over the past year." said Bohdan M. Wynnyk, Deputy Director of the Division of Research and Statistics.
Note: The data above are seasonally adjusted. Seasonally adjusted data provide the most valid month-to-month comparison. Non-seasonally adjusted data are valuable in year-to-year comparisons of the same month; for example, July 2011 versus July 2012.
1) Jobs data (seasonally adjusted):
U.S. and New York State, June 2012 - July 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 June 2012 and July 2012.
Total Nonfarm Jobs:
(private sector + government)
Private Sector Jobs:
|New York State||-3,700||0.0%||-4,100||-0.1%|
2) Unemployment rates (seasonally adjusted):
The state's unemployment rate was 9.1% in July 2012, up from June's level of 8.9%. The number of unemployed New Yorkers also increased over the month -- from 855,300 in June to 870,100 in July 2012.
|*Data are preliminary and subject to change, based on standard procedures outlined by the U.S. Bureau of Labor Statistics.|
|July 2012*||June 2012||July 2011|
|New York State||9.1||8.9||8.2|
|New York City||10.0||10.0||9.0|
|NYS, outside NYC||8.4||8.2||7.6|
3) Jobs data (not seasonally adjusted):
U.S., New York State, Major Regions, and Metro Areas: July 2011 - July 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 July 2011 and July 2012.
Total Nonfarm Jobs:
(private sector + government)
Private Sector Jobs:
|New York State||+114,500||+1.3%||+123,400||+1.7%|
|Downstate NY (10-co. area)||+78,800||+1.4%||+94,900||+2.0%|
|New York City||+59,000||+1.5%||+72,200||+2.2%|
|Upstate NY (52-co. area)||+20,000||+0.6%||+26,600||+1.1%|
Job highlights since July 2011:
4) Jobs data (not seasonally adjusted):
Change in jobs by major industry sector, July 2011 - July 2012
The table below compares the over-the-year change in jobs by major industry sector in New York State between July 2011 and July 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||+52,500|
|Educational & Health Services*||+38,500|
|Leisure & Hospitality||+19,100|
|Trade, Transportation & Utilities||+10,400|
|Sectors With Job Losses:|
|Natural Resources and Mining||-100|
Highlights among NYS sectors with job gains since July 2011:
Highlights among NYS sectors with job losses since July 2011:
5) Regular Unemployment Insurance (UI), Emergency Unemployment Compensation (EUC08) and Extended Benefits (EB) programs:
For New York, during the week that included July 12, 2012, there were 512,062 people (including 468,393 who live in the state) who received benefits under:
New Yorkers who received unemployment insurance made up 54% of the total unemployed in the state in July 2012.
Currently, Unemployment Insurance claimants in New York State may receive up to 79 weeks of benefits. In February 2012, Congress passed an extension of EUC and EB through December 2012. However, beginning in early June, there were significant changes to the maximum number of weeks of benefits available to the unemployed in New York State.
Taken together, these two changes resulted in a net reduction of 14 weeks of benefits in New York State, leaving a maximum of 79 weeks of benefits starting in June. See the table below for the maximum number of weeks available under the new federal regulations.
|Program:||June 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.