In December 2014, New York State’s private sector job count increased by 30,100, or 0.4 percent, to 7,638,200, reaching a new all-time high and outpacing the nation’s growth. Since the beginning of Governor Andrew M. Cuomo’s administration, the state’s economy has added 535,600 private sector jobs and experienced employment growth in 41 of the past 48 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 statewide unemployment rate in New York declined from 5.9% to 5.8% in December 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 was unchanged at 6.3%, remaining at its lowest level since October 2008.

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 December 2014, New York State’s economy experienced its largest monthly private sector job gain in two years and outpaced the nation. In addition, the state’s unemployment rate continued its recent downward trend in December,” said Bohdan M. Wynnyk, Deputy Director of the Division of Research and Statistics.

1) Jobs data (seasonally adjusted):

U.S. and New York State, November - December 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 November-December 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 5.9% to 5.8% in December 2014. The number of unemployed New Yorkers also decreased over the month -- from 559,600 in November 2014 to 552,200 in December 2014.

3) Jobs data (not seasonally adjusted):

U.S., New York State, Major Regions, and Metro Areas: December 2013 - December 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 December 2013 and December 2014.

Job highlights since December 2013:

• In the 10-county Downstate region, private sector jobs grew by 2.2% over the past year. The Downstate region’s private sector job growth was most rapid in New York City (+2.7%) and Nassau-Suffolk (+1.4%).
• In the 52-county Upstate region, the private sector job count grew by 0.8% over the past year. Private sector job growth occurred in both the region’s metro areas (+1.0%) and in counties outside of metro areas (+0.2%).
• Over the past year, private sector jobs grew most rapidly in these metro areas:
  • New York City (+2.7%)
  • Kingston (+2.2%)
  • Albany-Schenectady-Troy (+2.1%)
  • Ithaca (+1.8%)
  • Nassau-Suffolk (+1.4%)
• Syracuse (-0.7%) was the only metro area in the state to lose private sector jobs between December 2013 and December 2014.

4) Jobs data (not seasonally adjusted):

Change in jobs by major industry sector, December 2013 – December 2014

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

Highlights among NYS sectors with job gains since December 2013:

• Professional and business services added the most jobs (+42,400) of any major industry sector over the past year. Over the past year, sector job gains were mostly in administrative and support services (+20,700), and professional, scientific and technical services (+19,200).
• Private educational and health services had the second largest increase in jobs (+38,400) between December 2013 and December 2014. Sector employment gains were centered in health care and social assistance (+37,400), especially ambulatory health care services (+24,000).
• The third largest employment increase over the past year was registered in leisure and hospitality (+25,100), with most sector gains in accommodation and food services (+22,800), especially food services and drinking places (+20,700).

Highlights among NYS sectors with job losses since December 2013:

• Over the past 12 months, government lost more jobs (-9,000) than any other major industry sector in the state, with job losses greatest at the local level (-8,800), including local elementary and secondary schools (-3,100).
• Between December 2013 and December 2014, manufacturing job losses (-8,400) were split between durable goods (-4,300) and nondurable goods (-4,100).

5) Regular Unemployment Insurance (UI):

For New York State, during the week that included December 5, 2014, there were 148,007 people (including 136,272 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 25% of the total unemployed in the state in December 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.

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