New York State Department of Labor July 21, 2016
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NYS Economy Adds 23,900 Private Sector Jobs in June 2016, Reaches New Record HighUnemployment Rate Remains at Lowest Level in More than Eight Years |
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In June 2016, New York State’s private sector job count increased by 23,900, or 0.3%, to 7,918,400, a new record high, according to preliminary figures released today by the New York State Department of Labor. Since the beginning of Governor Andrew M. Cuomo’s administration, New York State’s economy has added 824,100 private sector jobs and experienced employment growth in 57 of the past 66 months. The statewide unemployment rate was unchanged from May’s level of 4.7%, and is below the comparable U.S. rate of 4.9% in June 2016. New York’s statewide unemployment rate continues at its lowest level since August 2007. 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 State’s unemployment rate based partly upon the results of the Current Population Survey, which contacts approximately 3,100 households in New York State each month. “New York State’s labor market continued to strengthen in June 2016, reaching a new record high in private sector jobs. In addition, the state’s over-the-month percentage gain in private sector jobs (+0.3%) in June was greater than the nation’s (+0.2%),” said Bohdan M. Wynnyk, Deputy Director of the New York State Department of Labor’s 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 2015 versus June 2016.
U.S. and New York State: May – June 2016 1) Jobs data (seasonally adjusted): 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 May-June 2016.
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. In June 2016, the statewide unemployment rate remained unchanged at 4.7%. The number of unemployed New Yorkers decreased from 461,700 in May to 451,600 in June 2016, reaching its lowest level since August 2007.
U.S., New York State and Metro Areas: June 2015 – June 2016 1) Jobs data (not seasonally adjusted): 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 and metro areas within the State between June 2015 and June 2016.
Job highlights since June 2015:
Change in jobs by major industry sector: June 2015 – June 2016 1) Jobs data (not seasonally adjusted): The table below compares the over-the-year change in jobs by major industry sector in New York State occurring between June 2015 and June 2016.
Highlights among NYS sectors with job gains since June 2015:
Highlights among NYS sectors with job losses since June 2015:
Unemployment Insurance Benefits: June 2016 1) Regular Unemployment Insurance (UI): For New York State, during the week that included June 12, 2016, there were 115,882 people (including 105,310 who live in the State) who received benefits under the regular Unemployment Insurance (UI) program. In June 2016, New York State residents who received Unemployment Insurance benefits made up 23% 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 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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