NYS Economy Added 89,900 Private Sector Jobs over the Past Year

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1 Contact: Press Office Phone: FOR IMMEDIATE RELEASE November 17, 2016 NYS Economy Added 89,900 Private Sector Jobs over the Past Year From October 2015 to October 2016, New York State s private sector job count climbed by 89,900, or 1.1 percent, according to preliminary figures released today by the New York State Department of Labor. In October 2016, the state s private sector job count fell by 4,000. Since the beginning of Governor Andrew M. Cuomo s administration, New York State s economy has added 838,900 private sector jobs and experienced employment growth in 58 of the past 70 months. In October 2016, New York s statewide unemployment rate increased from 5.0% to 5.2%. 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. Looking over the past year, the New York State economy has added 89,900 private sector jobs, 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, October 2015 versus October The New York State Department of Labor is an Equal Opportunity Employer/Program. Auxiliary aids and services are available upon request to individuals with disabilities.

2 U.S. and New York State: September October ) 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 September-October Total Nonfarm and Private Sector Jobs September October 2016 Total Nonfarm Jobs: Private Sector Jobs: (private sector + government) Net % Net % United States +161, % +142, % New York State -6, % -4, % 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 2016, the statewide unemployment rate increased from 5.0% to 5.2%. The number of unemployed New Yorkers increased from 481,000 in September to 495,200 in October Unemployment Rates (%)* October 2016* September 2016 October 2015 United States New York State New York City NYS, outside NYC *Data are preliminary and subject to change, based on standard procedures outlined by the U.S. Bureau of Labor Statistics. U.S., New York State and Metro Areas: October 2015 October ) Jobs data (not seasonally adjusted): The following table 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 October 2015 and October

3 Total Nonfarm and Private Sector Jobs October 2015 October 2016 Total Nonfarm Jobs: (private sector + government) Private Sector Jobs: Net % Net % United States +2,239, % +2,044, % New York State +94, % +89, % Albany-Schenectady-Troy % % Binghamton -1, % -1, % Buffalo-Niagara Falls +5, % +5, % Dutchess-Putnam +1, % +1, % Elmira % % Glens Falls % % Ithaca +2, % +2, % Kingston +1, % +1, % Nassau-Suffolk +11, % +11, % New York City +70, % +65, % Orange-Rockland-Westchester +7, % +7, % Rochester % % Syracuse % % Utica-Rome -1, % -1, % Watertown-Fort Drum % % Non-metro Counties +2, % +2, % Job highlights since October 2015: Eleven metro areas in New York State added private sector jobs over the past year, with the most rapid growth in these areas: o Ithaca (+3.8%) o Kingston (+2.5%) o Watertown-Fort Drum (+2.3%) o New York City (+1.8%) o Dutchess-Putnam (+1.4%) Over the past year, three metro areas in the state Binghamton (-1.5%), Utica-Rome (-1.0%) and Elmira (-0.3%) lost private sector jobs. 3

4 jobs by major industry sector: October 2015 October ) 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 2015 and October Jobs by Major Industry Sector October 2015 October 2016 Sectors With Job Gains: Educational & Health Services * +55,600 Leisure & Hospitality +15,600 Professional & Business Services +10,800 Other Services +8,000 Trade, Transportation & Utilities +7,300 Government * +4,200 Information +600 Construction +400 Sectors With Job Losses: Manufacturing -6,400 Financial Activities -1,700 Natural Resources & Mining -300 *Educational and health services is in the private sector. Government includes public education and public health services. Highlights among NYS sectors with job gains since October 2015: Private educational and health services added the most jobs (+55,600) of any major industry sector over the past year. Sector job gains were mostly in health care and social assistance (+43,100), especially ambulatory health care (+24,100). The second largest employment increase over the past year occurred in leisure and hospitality (+15,600). Sector gains were centered in accommodation and food services (+13,900), especially food services and drinking places (+16,200). From October 2015 to October 2016, the third largest employment increase occurred in professional and business services, which added 10,800 jobs. Over-the-year sector job gains were mostly in professional, scientific and technical services (+10,600), especially management, scientific and technical consulting services (+5,400). Other services had the fourth largest increase in jobs (+8,000) between October 2015 and October Over the past year, most sector job gains were in religious, grantmaking, civic, professional and similar organizations (+7,500). 4

5 Highlights among NYS sectors with job losses since October 2015: Over the past 12 months, manufacturing lost the most jobs (-6,400) of any major industry sector in New York. Job losses were focused in durable goods (-7,900), especially fabricated metals (-5,000). From October 2015 to October 2016, the second largest employment decrease occurred in financial activities, which lost 1,700 jobs. Over-the-year sector job losses were concentrated in real estate and rental and leasing (-1,900). Unemployment Insurance Benefits: October ) Regular Unemployment Insurance (UI): For New York State, during the week that included October 12, 2016, there were 104,638 people (including 94,897 who live in the State) who received benefits under the regular Unemployment Insurance (UI) program. In October 2016, 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. See State and Area Jobs Data See Labor Market Overview See Jobs and Unemployment Fact Sheet 5