New Data Show NYS’s Private Sector Jobs Reached an All-Time High and the Statewide Unemployment Rate Fell to a Record Low in 2018

Statement from Governor Andrew M. Cuomo on Record High Private Sector Jobs and Record Low Unemployment

 Newly revised data from the U.S. Department of Labor show that New York’s economic expansion continued in 2018. Last year, the state’s annual private sector job count reached 8,181,000, a new, all-time high, and the state’s unemployment rate fell to 4.1%, its lowest annual rate on record. Last year also marked the state’s ninth consecutive year of job growth. From 2009 to 2018, the state’s economy added a total of more than 1.16 million private sector jobs.

According to the NYS Department of Labor, “Since the beginning of Governor Andrew M. Cuomo’s administration, New York State’s economy has added 1,138,600 private sector jobs and experienced employment growth in 83 of the past 97 months. In January 2019, New York’s statewide unemployment rate was unchanged at 3.9% and the state’s private sector job count grew by 10,900.”

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 data from the U.S. Bureau of Labor Statistics show that the New York State economy continued to grow last year. In 2018, our annual private sector job count exceeded 8.1 million, a new annual high, and the state’s jobless rate reached 4.1%, a new record low,” 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, January 2018 versus January 2019.

Jobs data are revised at the end of each year for all states and the nation as more complete information becomes available from employers’ Unemployment Insurance records. This process is called “benchmarking” and is federally mandated. For more details, see Annual Benchmark Analysis (opens in new window).

Labor force data, including unemployment rates, are also revised at the end of each year, using methods established by the U.S. Bureau of Labor Statistics. The revised labor force data show that New York State’s annual average unemployment rate fell from 4.7% in 2017 to 4.1% in 2018, its lowest annual average rate on record (current records date back to 1976).

United States and New York State: December 2018 – January 2019

1) 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 December 2018 – January 2019.

Change in Total Nonfarm and Private Sector Jobs
December 2018 – January 2019
Change in
Total Nonfarm Jobs:

(private sector + government)
Change in
Private Sector Jobs:
Net % Net %
United States +304,000 +0.2% +296,000 +0.2%
New York State +9,800 +0.1% +10,900 +0.1%

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 January 2019, the statewide unemployment rate was unchanged at 3.9%, since the month prior. New York City’s unemployment rate increased from 4.0% in December 2018 to 4.1% in January 2019. Outside of New York City, the unemployment rate was also unchanged at 3.8%, since December 2018.

 

Unemployment Rates (%)*
*Data are preliminary and subject to change, based on standard procedures outlined by the U.S. Bureau of Labor Statistics.
January 2019* December 2018 January 2018
United States 4.0 3.9 4.1
New York State 3.9 3.9 4.5
New York City 4.1 4.0 4.3
NYS, outside NYC 3.8 3.8 4.7

 

United States, New York State and Metro Areas: January 2018 – January 2019

1) Jobs data (not seasonally adjusted):

The following table compares the changes in total nonfarm and private sector jobs occurring in the United States, New York State and metro areas within the State, between January 2018 and January 2019.

 

Change in Total Nonfarm and Private Sector Jobs by Area
January 2018 – January 2019
Change in
Total Nonfarm Jobs:

(private sector + government)
Change in
Private Sector Jobs:
Net %

 

Net %

 

United States +2,773,000 +1.9% +2,648,000 +2.1%
New York State +109,000 +1.2% +103,900 +1.3%
 Albany-Schenectady-Troy +9,000 +2.0% +9,500 +2.7%
    Binghamton +600 +0.6% +600 +0.8%
Buffalo-Niagara Falls +2,000 +0.4% +1,900 +0.4%
    Dutchess-Putnam +700 +0.5% +900 +0.8%
    Elmira +100 +0.3% +100 +0.3%
    Glens Falls +1,000 +1.9% +800 +1.9%
    Ithaca -100 -0.2% 0 0.0%
    Kingston +1,700 +2.8% +1,600 +3.5%
    Nassau-Suffolk +6,200 +0.5% +6,000 +0.5%
 New York City +93,900 +2.1% +86,400 +2.2%
Orange-Rockland-Westchester +3,200 +0.5% +3,900 +0.7%
    Rochester +3,000 +0.6% +900 +0.2%
    Syracuse +5,900 +1.9% +6,100 +2.4%
    Utica-Rome +600 +0.5% +1,000 +1.1%
Watertown-Fort Drum +300 +0.7% +200 +0.7%
Non-metro counties +2,400 +0.5% +2,300 +0.6%

Job highlights since January 2018:

  • Over the past 12 months, no metro areas in New York State lost private sector jobs.
  • Fourteen metro areas in New York State added private sector jobs over the past year. The most rapid employment growth was in these metro areas:
    • Kingston (+3.5%)
    • Albany-Schenectady-Troy (+2.7%)
    • Syracuse (+2.4%)
    • New York City (+2.2%)
    • Glens Falls (+1.9%)
  • Non-metro counties in New York added 2,300 private sector jobs over the past year.
Change in jobs by major industry sector: January 2018 – January 2019

1) Jobs data (not seasonally adjusted):

The table below compares the change in jobs by major industry sector in New York State occurring between January 2018 and January 2019.

 

Change in Jobs by Major Industry Sector
January 2018 – January 2019
*Educational and health services is in the private sector.
Government includes public education and public health services.
Sectors With Job Gains:
Educational & Health Services* +63,200
Construction +13,900
Professional & Business Services +7,500
Other Services +7,400
Government* +5,100
Information +3,700
Leisure & Hospitality +3,500
Manufacturing +2,500
Financial Activities +1,300
Trade, Transportation & Utilities +800
Natural Resources & Mining +100

 

Highlights among New York State sectors with job gains since January 2018:

  • Private educational and health services added the most jobs (+63,200) of any major industry sector over the past year. Sector job gains were mostly in health care and social assistance (+64,900), especially ambulatory health care (+38,600).
  • From January 2018 to January 2019, the second largest employment occurred in construction, which saw its employment count grow by 13,900. Sector employment gains were largest in construction of buildings (+8,700), especially residential building construction (+8,000).
  • The third largest increase in jobs over the past 12 months occurred in professional and business services (+7,500). Most of the job gains in this sector were in professional, scientific and technical services (+9,600).
  • Other services had the fourth largest increase in jobs (+7,400) between January 2018 and January 2019. Sector gains were greatest in religious, grantmaking, civic, professional and similar organizations (+4,700) and personal and laundry services (+2,000).

 

Unemployment Insurance Benefits: January 2019

1) Regular Unemployment Insurance:

For New York State, during the week that included January 12, 2019, there were 135,417 people (including 124,917 who live in the State) who received benefits under the regular Unemployment Insurance program.

In January 2019, New York State residents who received Unemployment Insurance benefits made up 33% 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 NYS Department of Labor’s 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 website.

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.

Statement from Governor Andrew M. Cuomo on Record High Private Sector Jobs and Record Low Unemployment

“New Department of Labor data show historic economic success for the State of New York – in 2018 the number of private sector jobs reached a new, all-time high and the statewide unemployment rate fell to an all-time low.

“These numbers are proof positive of the success of our long-term strategy of boosting economic progress across every corner of the state rather than in just a few regions, as has been the case in decades past. This success is bolstered by the strength of bottom-up, regionally focused economic development and transformative investments in infrastructure and new and emerging industries to support generations of future economic growth.

“But our work must not and does not end. We will continue to build on our transformative progress to drive growth across the state, create and retain jobs and keep all economic arrows pointed in the right direction.”

See State and Area Job Data (opens in new window)
See Labor Market Overview (opens in new window)
See Jobs and Unemployment Fact Sheet (opens in new window)