New York State Department of Labor June 15, 2017
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NYS Economy Adds 32,100 Private Sector Jobs in May 2017, Reaches New Record HighState Records Largest Monthly Gain Since October 2015 |
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In May 2017, New York State’s private sector job count increased by 32,100, or 0.4%, to 8,063,200, a new record high, according to preliminary figures released today by the New York State Department of Labor. Since the end of the State’s recession in late 2009, New York has added nearly 1.1 million private sector jobs. Since the beginning of Governor Andrew M. Cuomo’s administration, New York State’s economy has added 969,100 private sector jobs and experienced employment growth in 65 of the past 77 months. New York’s statewide unemployment rate rose from 4.3% to 4.4% in May 2017. This over-the-month rise in the State’s jobless rate was due in large part to a 27,700 expansion in the statewide workforce as more re-entrants and new entrants to the labor force sought employment. Since the beginning of this year, the statewide labor force is up more than 175,000. 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 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. “The State’s private sector job count increased by 32,100 in May 2017, reaching a new record high. This marks the state’s largest over-the-month employment gain since October 2015,” 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, May 2016 versus May 2017.
United States and New York State: April – May 2017 1) Jobs data (seasonally adjusted): The table below compares the over-the-month change in the total nonfarm and private sector job counts in the United States and New York State in April-May 2017.
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 (CPS). The CPS contacts approximately 3,100 households in New York State each month. In May 2017, the statewide unemployment rate increased from 4.3% to 4.4%. The number of unemployed New Yorkers increased over the month, from 416,800 to 428,500.
U.S., New York State and Metro Areas: May 2016 – May 2017 1) Jobs data (not seasonally adjusted): The following table compares the over-the-year changes in the total nonfarm and private sector job counts occurring in the United States, New York State and metro areas within the State between May 2016 and May 2017.
Job highlights since May 2016:
Change in jobs by major industry sector: May 2016 – May 2017 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 May 2016 and May 2017.
Highlights among New York State sectors with job gains since May 2016:
Highlights among New York State sectors with job losses since May 2016:
Unemployment Insurance Benefits: May 2017 1) Regular Unemployment Insurance: For New York State, during the week that included May 12, 2017, there were 110,694 people (including 100,309 who live in the State) who received benefits under the regular Unemployment Insurance program. In May 2017, 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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