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New York State's Economy Grows By Over 12,000 Jobs As Job Count Reaches Another All-Time High

Statewide Unemployment Rate Remains at Five-Year Low

Albany, NY (March 27, 2014)
New York State's private sector job count grew by 12,800, or 0.2 percent, in February 2014, according to preliminary figures released today by the New York State Department of Labor. This latest monthly gain raised New York State's private sector job count to 7,543,100, an all-time high. The state's unemployment rate remained unchanged at 6.8%, which is a five-year low. Since the beginning of Governor Andrew M. Cuomo's administration, the New York State economy has added 440,500 private sector jobs and experienced employment growth in 33 of the past 38 months.

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 a monthly telephone survey of 3,100 households in the state.

"The New York State economy continued its upward trend, adding 12,800 private sector jobs in February 2014. The state's jobless rate held steady and remained at a five-year low," 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, February 2013 versus February 2014.

Unemployment Rates-Not Seasonally adjusted (%)*

  February
2014
January
2014
February
2013
United States 6.7 6.6 7.7
New York State 7.7 7.3 8.6
North Country 9.7 9.5 11.0
U-6 12.6 12.7 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 February 2013:

  • In the 10-county Downstate region, private sector jobs grew by 2.2% over the past year. Downstate's private sector job growth was most rapid in New York City (+2.6%) and Nassau-Suffolk (+1.7%).

  • In the 52-county Upstate region, the private sector job count grew by 0.5% over the past year. Private sector job growth occurred in both the region's metro areas (+0.6%) and in counties outside of metro areas (+0.2%).

  • Over the past year, private sector jobs grew most rapidly in these metro areas:
    • Kingston (+3.5%)
    • New York City (+2.6%)
    • Poughkeepsie-Newburgh-Middletown (+2.6%)
    • Nassau-Suffolk (+1.7%)
    • Putnam-Rockland-Westchester (+1.1%)

  • The Elmira (-2.5%), Ithaca (-0.8%) and Binghamton (-0.6%) metro areas lost private sector jobs between February 2013 and February 2014.

Number of Non-Farm Jobs in the North Country*

  February
2014
January
2014
February
2013
Clinton 33,300 32,400 33,400
Essex 14,400 14,300 14,700
Franklin 19,000 18,500 19,300
Hamilton 1,800 1,800 1,800
Total 68,500 67,000 69,200

*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,
February 2013 - February 2014

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

Sectors with Job Gains:
Educational & Health Services* +40,800
Trade, Transportation, & Utilities +27,500
Leisure & Hospitality +20,900
Professional & Business Services +25,300
Other Services +5,100
Information +3,800
Financial Activities +800
Sectors with Job Losses:
Government* -5,100
Manufacturing -3,800
Construction -3,200

*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 February 2013:

  • Private educational and health services added the most jobs (+40,800) of any major industry sector over the past year. Sector employment gains were centered in health care and social assistance (+32,100), especially ambulatory health care services (+21,900).

  • Trade, transportation and utilities had the second largest increase in jobs (+27,500) between February 2013 and February 2014. Over the past year, sector job gains were mostly in wholesale and retail trade (+19,500).

  • The third largest employment increase over the past year was registered in professional and business services (+25,300), with sector gains focused in administrative and support services (+13,100), and professional, scientific and technical services (+12,000).

Highlights among NYS sectors with job losses since February 2013:

  • Over the past year, government lost more jobs (-5,100) than any other major industry sector. Government employment losses between February 2013 and February 2014 were largest at the federal level (-2,800).

  • Between February 2013 and February 2014, manufacturing sector job losses (-3,800) were greatest in durable goods (-2,800).