State Economy Adds 14,600 Private Sector Jobs in January

New York State’s private sector job count increased by 14,600, or 0.2 percent, in In January, to 7,868,100, a new record high, according to preliminary figures released today by the state Department of Labor.

The state economy added 14,600 private sector job during January 2016, a 0.2 percent increase for a new record high.
Photo Credit: *Labor.ny.gov*

K Reakes

03/05/2016 12:30 p.m.

Since January 2011, New York State’s economy has added 773,800 private sector jobs and experienced employment growth in 53 of the past 61 months. The statewide unemployment rate decreased from 5.0 percent in December to 4.9 percent in Jan. 2016, matching the national unemployment rate in Jan. 2016.

“New York State’s upward trend in private sector jobs continued in January 2016 as we reached a new record high," said Bohdan M. Wynnyk, deputy director of the Division of Research and Statistics. "Moreover, our statewide unemployment rate is now at pre-recession levels."

Seasonally adjusted data is used to provide the most valid month-to-month comparison.

Private educational and health services added the most jobs (+30,800) of any major industry sector over the past year. Sector job gains were mostly in health care and social assistance (+36,500), especially ambulatory health care services (+18,500).
The second largest employment increase over the past year occurred in professional and business services (+26,800), with sector gains centered in professional, scientific and technical services (+15,600), and administrative and support services (+11,000).
Leisure and hospitality had the third largest increase in jobs (+14,600) between January 2015 and January 2016. Over the past year, sector job gains were mostly in accommodation and food services (+18,800).

Over the past 12 months, natural resources and mining was the only industry sector to lose jobs (-200) in the state.

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 from February.

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 the state each month.

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