January 23, 2020
NY State Economy Adds 97,700 Private Sector Jobs Over the Past Year
NYS Jobless Rate Remains at Low Level; NYC Rate Matches Record Low
From December 2018 to December 2019, New York State’s private sector job count increased by 97,700, or 1.2%, according to preliminary figures released today by the New York State Department of Labor. From November 2019 to December 2019, the State’s private sector job count fell by 3,700. Since the beginning of Governor Andrew M. Cuomo’s administration, New York State’s economy has added 1,227,300 private sector jobs.
In December 2019, New York State’s seasonally adjusted unemployment rate remained at 4.0%, while the rate in New York City decreased from 4.0% to 3.9%, matching its lowest rate on records dating back to 1976. Between 2018 and 2019, the annual jobless rate in New York State declined by 0.1 percentage points and the number of unemployed New Yorkers dropped by more than 14,000.
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 become available the following month. The federal government calculates New York State’s unemployment rate based partly upon the results of the Current Population Survey, which contacts approximately 3,100 households in the State each month.
“Looking over the past year, New York State’s economy added 97,700 private sector jobs. In addition, we remain at a very low statewide unemployment rate, while New York City’s rate matched its record low level in December 2019,” said Bohdan M. Wynnyk, Director of the New York State Department of Labor’s Division of Research and StatisticsNote: 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, December 2018 versus December 2019.
United States and New York State: November – December 2019
1) Jobs data (seasonally adjusted):
The table below compares the month-over-month change in total nonfarm and private sector jobs in the United States and New York State.
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 from the Current Population Survey (CPS). The CPS contacts approximately 3,100 households in New York State each month.
In December 2019, the statewide unemployment rate remained unchanged at 4.0%. New York City’s unemployment rate decreased from 4.0% to 3.9%, matching its lowest rate on records dating back to 1976. Outside of New York City, the unemployment rate increased from 3.9% to 4.0%.
The number of unemployed New Yorkers decreased, from 379,200 in November to 377,400 in December 2019.
United States, New York State and Metro Areas: December 2018 – December 2019
1) Jobs data (not seasonally adjusted):
The following table compares the changes in total nonfarm and private sector jobs occurring in the United States, New York State and metro areas in the State, between December 2018 and December 2019.
Job highlights since December 2018:
Change in jobs by major industry sector: December 2018 – December 2019
1) Jobs data (not seasonally adjusted):
The table below compares the change in jobs by major industry sector in New York State occurring between December 2018 and December 2019.
Highlights among New York State sectors with job gains since December 2018:
Highlights among New York State sectors with job losses since December 2018:
Unemployment Insurance Benefits: December 2019
1) Regular Unemployment Insurance:
For New York State, during the week that included December 5, 2019, there were 113,644 people (including 103,727 who live in the state) who received benefits under the regular Unemployment Insurance program.
In December 2019, New York State residents who received Unemployment Insurance benefits made up 27% of the total unemployed.
Note: The responsibility for the production of monthly estimates of state and metro area nonfarm employment by industry moved from the NYS Department of Labor’s 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 website.
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.
In New York State, payroll jobs data by industry come from a monthly survey of 18,000 business establishments conducted by the U.S. Bureau of Labor Statistics. Data are preliminary and subject to revision. Jobs data by industry do not include agricultural workers, the self-employed, unpaid family workers or domestic workers in private households.
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. The state’s unemployment rate is based partly upon the results of the Current Population Survey, which contacts approximately 3,100 households in New York each month.