New York State’s private sector job count grew by 4,500, or 0.1 percent, in September 2014, according to preliminary figures released today by the New York State Department of Labor. This latest monthly employment gain raised New York State’s overall private sector job count to 7,614,500, an all-time high.

The statewide unemployment rate declined from 6.4% to 6.2% in September 2014, its lowest level since October 2008. In addition, New York City’s unemployment rate dropped from 7.8% to 6.8% over the past two months, marking the City’s largest two month rate drop ever (current records go back to 1976). In September, the number of individuals collecting Unemployment Insurance benefits from New York State dropped to 125,437, the lowest level since November 2007, right before the start of the U.S. recession. This compares to the peak of 680,000 individuals collecting benefits in February 2010, which, at the time, included federal extended benefits programs.

Since the beginning of Governor Andrew M. Cuomo’s administration, the state’s economy has added 511,900 private sector jobs and experienced employment growth in 40 of the past 45 months. September 2014 marked New York State’s 22nd consecutive month of private sector job growth, the state’s longest streak ever (current records go back to 1990).

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.

“The New York State economy added 4,500 private sector jobs in September 2014 marking yet another record high for the private sector job count. September was our state’s 22nd consecutive month of private sector job growth. In addition, our statewide jobless rate fell to 6.2%, its lowest level since October 2008,” said Bohdan M. Wynnyk, Deputy Director of the 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, September 2013 versus September 2014.

1) Jobs data (seasonally adjusted):

U.S. and New York State, August - September 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 August-September 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 6.4% to 6.2% in September 2014. The number of unemployed New Yorkers also decreased over the month -- from 614,000 in August 2014 to 586,500 in September 2014, the first time the number of statewide unemployed was below 600,000 since October 2008.

3) Jobs data (not seasonally adjusted):

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

Job highlights since September 2013:

• In the 10-county Downstate region, private sector jobs grew by 2.3% over the past year. The Downstate region’s private sector job growth was most rapid in New York City (+2.8%) and Nassau-Suffolk (+1.8%).
• In the 52-county Upstate region, the private sector job count grew by 0.3% over the past year. Private sector job growth occurred in both the region’s metro areas (+0.4%) and in counties outside of metro areas (+0.3%).
• Over the past year, private sector jobs grew most rapidly in these metro areas:
  • New York City (+2.8%)
  • Nassau-Suffolk (+1.8%)
  • Kingston (+1.3%)
  • Albany-Schenectady-Troy (+1.1%)
• The metro areas in the state to lose private sector jobs between September 2013 and September 2014 were Syracuse (-0.5%), Glens Falls (-0.4%), Utica-Rome (-0.3%) and Binghamton (-0.2%).

4) Jobs data (not seasonally adjusted):

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

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

Highlights among NYS sectors with job gains since September 2013:

• Private educational and health services added the most jobs (+39,000) of any major industry sector over the past year. Sector employment gains were centered in health care and social assistance (+35,000), especially ambulatory health care services (+22,000).
• Professional and business services had the second largest increase in jobs (+32,700) between September 2013 and September 2014. Over the past year, sector job gains were mostly in administrative and support services (+16,600), and professional, scientific and technical services (+14,400).
• The third largest employment increase over the past year was registered in leisure and hospitality (+21,200), with most sector gains in accommodation and food services (+19,900), especially in food services and drinking places (+18,200).

Highlights among NYS sectors with job losses since September 2013:

• Over the past 12 months, manufacturing lost more jobs (-10,500) than any other major industry sector in the state. Manufacturing job losses between September 2013 and September 2014 were mostly in durable goods (-6,400), especially computers and electronic products (-3,400).
• Between September 2013 and September 2014, government job losses (-3,600) were greatest at the local level (-2,300), especially local elementary and secondary schools (-2,600).

5) Regular Unemployment Insurance (UI):

For New York State, during the week that included September 12, 2014, there were 125,437 people (including 114,750 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 20% of the total unemployed in the state in September 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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