New York State Department of Labor December 18, 2014
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Statewide Unemployment Rate Drops to 5.9% in November 2014, Reaching Lowest Level in More Than Six Years |
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The statewide unemployment rate in New York declined from 6.0% to 5.9% in November 2014, reaching its lowest level since September 2008, according to preliminary figures released today by the New York State Department of Labor. In addition, New York City’s unemployment rate fell from 6.4% to 6.3%, reaching its lowest level since October 2008. New York State’s private sector job count remained near its record-high level, falling by only 100 jobs out of more than 7.6 million, or less than 0.1 percent, in November 2014. Since the beginning of Governor Andrew M. Cuomo’s administration, the state’s economy has added 506,100 private sector jobs and experienced employment growth in 40 of the past 47 months. This period included 22 consecutive months of private sector job growth, the state’s longest streak on record (current data go back to 1990). 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. “In November 2014, the unemployment rates in both New York State and New York City continued their recent downward trend, reaching their lowest levels in more than six years,” said Bohdan M. Wynnyk, Deputy Director of the Division of Research and Statistics.
1) Jobs data (seasonally adjusted): U.S. and New York State, October - November 2014 The table below compares the over-the-month change in total nonfarm and private sector jobs in the United States and New York State in October-November 2014.
2) Unemployment rates (seasonally adjusted): The state’s unemployment rate is calculated by the U.S. Bureau of Labor Statistics, using a statistical regression model that primarily uses the results of the Current Population Survey, which contacts approximately 3,100 households in New York State each month. The statewide unemployment rate fell from 6.0% to 5.9% in November 2014. The number of unemployed New Yorkers also decreased over the month -- from 572,300 in October 2014 to 559,800 in November 2014.
3) Jobs data (not seasonally adjusted): U.S., New York State, Major Regions, and Metro Areas: November 2013 - November 2014 The table that follows compares the over-the-year change in total nonfarm and private sector jobs that occurred in the United States, New York State, the Upstate and Downstate regions, and metro areas in the state between November 2013 and November 2014.
Job highlights since November 2013:
4) Jobs data (not seasonally adjusted): Change in jobs by major industry sector, November 2013 – November 2014 The table below compares the over-the-year change in jobs by major industry sector in New York State occurring between November 2013 and November 2014.
Highlights among NYS sectors with job gains since November 2013:
Highlights among NYS sectors with job losses since November 2013:
5) Regular Unemployment Insurance (UI): For New York State, during the week that included November 5, 2014, there were 131,455 people (including 120,515 who live in the state) who received benefits under the regular Unemployment Insurance (UI) program. New York State residents who received Unemployment Insurance benefits made up 22% of the total unemployed in the state in November 2014. 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 the 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. In New York State, payroll jobs data by industry come from a monthly survey of 18,000 business establishments. Jobs data by industry do not include agricultural workers, the self-employed, unpaid family workers or domestic workers in private households.
See State and Area Job Data (opens in new window) |
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