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Private Sector Job Count Reaches New All-Time High in May

Albany, NY (June 19, 2014)
New York State’s private sector job count grew by 21,300, or 0.3 percent, in May 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 7,568,600, a new all-time high. The state’s unemployment rate held steady at 6.7% in May 2014, remaining at its lowest level since December 2008.

Since the beginning of Governor Andrew M. Cuomo’s administration, the New York State economy has added 466,000 private sector jobs and experienced employment growth in 36 of the past 41 months. May also marked New York State’s 18th consecutive month with private sector job growth, the state’s longest streak on record, since at least 1990. New York State remains one of only 17 states that have regained all of the 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 information 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’s economy continued to grow in May as it added 21,300 private sector jobs, reaching a new all-time high and outpacing job growth nationwide. This marked the 18th consecutive month of private sector employment gains. Our state’s jobless rate remained at 6.7%, its lowest level since late 2008,” 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, May 2013 versus May 2014.

Unemployment Rates-Not Seasonally adjusted (%)*

  May
2014
April
2014
May
2013
United States 6.3 6.3 7.5
New York State 6.7 6.7 7.8
North Country 7.3 7.7 8.9
U-6 12.2 12.3 13.8

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

Job highlights since May 2013:

  • In the 10-county Downstate region, private sector jobs grew by 1.9% over the past year. Downstate’s private sector job growth was most rapid in New York City (+2.3%) and Nassau-Suffolk (+1.5%).
  • In the 52-county Upstate region, the private sector job count grew by 0.4% over the past year. Private sector job growth occurred in both the region’s metro areas (+0.5%) and in counties outside of metro areas (+0.1%).
  • Over the past year, private sector jobs grew most rapidly in these metro areas:
    • Kingston (+2.9%)
    • New York City (+2.3%)
    • Poughkeepsie-Newburgh-Middletown (+2.1%)
    • Nassau-Suffolk (+1.5%)
  • The Ithaca (-2.0%), Elmira (-1.2%), Syracuse (-1.0%), Binghamton (-0.7%), and Glens Falls (-0.7%) metro areas lost private sector jobs between May 2013 and May 2014.

Number of Non-Farm Jobs in the North Country*

  May
2014
April
2014
May
2013
Clinton 334,100 33,500 34,000
Essex 14,100 13,500 14,200
Franklin 19,200 19,000 19,500
Hamilton 2,000 1,800 1,900
Total 69,400 67,800 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, May 2013 – May 2014

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

Sectors with Job Gains:
Educational & Health Services* +36,300
Professional & Business Services +30,100
Trade, Transportation, & Utilities +23,200
Leisure & Hospitality +15,900
Construction +9,100
Other Services +4,000
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 May 2013:

  • Private educational and health services added the most jobs (+36,300) of any major industry sector over the past year. Sector employment gains were centered in health care and social assistance (+30,500), especially ambulatory health care services (+20,100).
  • Professional and business services had the second largest increase in jobs (+30,100) between May 2013 and May 2014. Over the past year, sector job gains were mostly in professional, scientific and technical services (+16,800) and administrative and support services (+12,300).
  • The third largest employment increase over the past year was registered in trade, transportation and utilities (+23,200), with sector gains focused in retail trade (+16,300).

Highlights among NYS sectors with job losses since May 2013:

  • Over the past year, manufacturing lost more jobs (-7,700) than any other major industry sector. Manufacturing employment losses between May 2013 and May 2014 were split between durable goods (-4,100) and nondurable goods (-3,600).
  • Between May 2013 and May 2014, government sector job losses (-5,800) were greatest at the local level (-3,100).