New York’s statewide unemployment rate decreased from 4.9% to 4.8% in October 2017, according to preliminary figures released today by the New York State Department of Labor. Pushing the state’s unemployment rate lower in October was a decrease in the number of unemployed New Yorkers, which fell by 1,900 over the month.

From October 2016 to October 2017, New York State’s private sector job count rose by 98,200, or 1.2%. Over the month, the state’s private sector job count fell by 11,900 in October 2017. Since the beginning of Governor Andrew M. Cuomo’s administration, New York State’s economy has added 974,000 private sector jobs and experienced employment growth in 68 of the past 82 months.

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 New York State each month.

“New York State’s unemployment rate fell over the month, from 4.9% to 4.8%, due to an expanding labor force and a decrease in the number of unemployed. Additionally, the state’s economy has added more than 98,000 private sector jobs over the past year,” said Bohdan M. Wynnyk, 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, October 2016 versus October 2017.

United States and New York State: September – October 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 September-October 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 October 2017, the statewide unemployment rate decreased from 4.9% to 4.8%. In addition, the number of unemployed New Yorkers decreased over the month, from 472,600 to 470,700.

U.S., New York State and Metro Areas: October 2016 – October 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 October 2016 and October 2017.

Job highlights since October 2016:

• Twelve metro areas in New York State added private sector jobs over the past year, with the most rapid employment growth in these areas:
  • Ithaca (+3.2%)
  • Kingston (+1.7%)
  • New York City (+1.7%)
  • Glens Falls (+1.5%)
  • Watertown-Fort Drum (+1.3%)
• Non-metro Counties added 1,900 private sector jobs over the past year.
• Over the past year, three metropolitan areas in the state – Elmira (-1.9%), Buffalo-Niagara Falls (-0.7%) and Rochester (-0.7%) – lost private sector jobs.

Change in jobs by major industry sector: October 2016 – October 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 October 2016 and October 2017.

Highlights among New York State sectors with job gains since October 2016:

• Private educational and health services added the most jobs (+51,900) of any major industry sector over the past year. Sector job gains were mostly in health care and social assistance (+44,500), especially ambulatory health care (+20,900).
• From October 2016 to October 2017, the second largest employment increase occurred in professional and business services (+29,600). Most over-the-year job gains in this sector were found in professional, scientific and technical services (+17,600) and administrative and support services (+9,700).
• The third largest increase in jobs over the past year occurred in leisure and hospitality, which grew by 18,600. Sector gains were centered in accommodation and food services (+18,700), especially food services and drinking places (+18,000).
• Construction had the fourth largest increase in jobs (+7,900) between October 2016 and October 2017. Over-the-year sector gains were concentrated in specialty trade contractors (+3,400) and construction of buildings (+3,000).

Highlights among New York State sectors with job losses since October 2016:

• Over the past 12 months, manufacturing lost the most jobs (-17,100) of any major industry sector in New York State. Over-the-year sector losses were concentrated in durable goods (-12,800), especially fabricated metal products (-3,200).
• Between October 2016 and October 2017, two industry sectors -- information and trade, transportation and utilities – each lost 3,200 jobs. Information sector losses were greatest in publishing industries (-1,000) and telecommunications (-600). Losses in trade, transportation and utilities were centered in retail trade (-11,200), especially clothing and clothing accessories stores (-8,900).

Unemployment Insurance Benefits: October 2017

1) Regular Unemployment Insurance:

For New York State, during the week that included October 12, 2017, there were 100,300 people (including 91,046 who live in the State) who received benefits under the regular Unemployment Insurance program.

In October 2017, New York State residents who received Unemployment Insurance benefits made up 19% 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.

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