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New York State's Economy Adds 25,000 Private Sector Jobs in June as Unemployment Rate Drops To 6.6%, Lowest Level Since 2008

June Marks 19 Straight Months of Private Sector Job Growth

Albany, NY (July 17, 2014)
New York State’s private sector job count grew by 25,000, or 0.3 percent, in June 2014, according to preliminary figures released today by the New York State Department of Labor. This latest monthly employment gain raised New York State’s private sector job count to 7,589,600, an all-time high. The state’s unemployment rate decreased from 6.7% to 6.6% in June 2014, reaching its lowest level since November 2008.

Since the beginning of Governor Andrew M. Cuomo’s administration, the state’s economy has added 487,000 private sector jobs and experienced employment growth in 37 of the past 42 months. June 2014 marked New York State’s 19th consecutive month of private sector job growth, the state’s longest streak on record since at least 1990. New York remains one of only 19 states to have regained all private sector jobs lost during the recession, according to the latest available statistics.

The state’s private sector job count is based on a payroll survey of 18,000 New York employers conducted by the U.S. Department of Labor’s Bureau of Labor Statistics. Monthly payroll employment estimates are preliminary and subject to revision as more data becomes available the following month. The federal government calculates New York’s unemployment rate partly based upon the results of the Current Population Survey, which contacts approximately 3,100 households in New York State each month.

“New York State has now had 19 straight months of private sector job growth, including 25,000 new jobs in June 2014. In addition, our state’s jobless rate is now at its lowest level in more than five and a half years,” said Bohdan M. Wynnyk, Deputy Director of the Division of Research and Statistics.

Note: Seasonally adjusted data are used to 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, June 2013 versus June 2014.

Unemployment Rates-Not Seasonally adjusted (%)*

  May
2014
April
2014
May
2013
United States 6.1 6.3 7.5
New York State 6.6 6.7 7.8
North Country 7.1 7.3 9.0
U-6 12.1 12.2 14.3

*Data are preliminary and subject to change, based on standard procedures outlined by the U.S. Bureau of Labor Statistics.

Job highlights since June 2013:

  • In the 10-county Downstate region, private sector jobs grew by 2.4% over the past year. Downstate’s private sector job growth was most rapid inNew York City (+2.8%) and Nassau-Suffolk (+1.7%).
  • In the 52-county Upstate region, the private sector job count grew by 0.8% over the past year. Private sector job growth occurred in both the region’s metro areas (+0.9%) and in counties outside of metro areas (+0.3%).
  • Over the past year, private sector jobs grew most rapidly in these metro areas:
    • Kingston (+2.8%)
    • New York City (+2.8%)
    • Poughkeepsie-Newburgh-Middletown (+2.3%)
    • Nassau-Suffolk (+1.7%)
  • The Glens Falls (-1.0%), Syracuse (-0.8%) and Elmira (-0.6%) metro areas lost private sector jobs between June 2013 and June 2014.

Number of Non-Farm Jobs in the North Country*

  June
2014
May
2014
June
2013
Clinton 34,100 34,300 33,800
Essex 15,000 14,100 15,100
Franklin 19,300 19,300 19,400
Hamilton 2,300 2,000 2,200
Total 70,700 69,700 68,000

*Data are preliminary and subject to change, based on standard procedures outlined by the U.S. Bureau of Labor Statistics.

 

 

Change in jobs by major industry sector, June 2013 – June 2014

The table below compares the over-the-year change in jobs by major industry sector in New York State occurring between June 2013 and June 2014.

Sectors with Job Gains:
Educational & Health Services* +51,600
Professional & Business Services +31,300
Leisure & Hospitality +24,800
Trade, Transportation, & Utilities +24,300
Construction +11,600
Other Services +5,000
Natural Resources & Mining +200
Sectors with Job Losses:
Manufacturing -7,700
Government* -5,800
Financial Activities -3,200
Information -1,200

*Educational and health services is in the private sector. 
Government includes public education and public health services.

Highlights among NYS sectors with job gains since June 2013:

  • Private educational and health services added the most jobs (+51,600) of any major industry sector over the past year. Sector employment gains were centered in health care and social assistance (+32,800), especially ambulatory health care services (+19,900).
  • Professional and business services had the second largest increase in jobs (+31,300) between June 2013 and June 2014. Over the past year, sector job gains were mostly in administrative and support services (+15,300), and professional, scientific and technical services (+14,600).
  • The third largest employment increase over the past year was registered in leisure and hospitality (+24,800), with sector gains focused in accommodation and food services (+20,400).

Highlights among NYS sectors with job losses since May 2013:

  • Over the past year, manufacturing lost more jobs (-6,100) than any other major industry sector. Manufacturing job losses between June 2013 and June 2014 were split between nondurable goods (-3,100) and durable goods (-3,000).
  • Between June 2013 and June 2014, government sector job losses (-5,500) were greatest at the local level (-2,900).