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Monday, September 22, 2014
ENP STAFF REPORTS
news@eastniagarapost.com
ALBANY — New York State’s private sector job count grew by 3,900, or 0.1 percent, in August, 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 7,605,000, an all-time high.
The Buffalo-Niagara Falls added 4,100 jobs over August, 2013. Of those 3,900 are in the private sector. Each is an increase of 0.8 percent.
The statewide unemployment rate declined from 6.6 percent to 6.4 percent in August 2014, its lowest level since late 2008. In addition, New York City’s unemployment rate dropped from 7.8% to 7.3%, marking the largest monthly drop in nearly 40 years – as far as records go back.
The unemployement rate outside of New York City is 5.8 percent, better than the national average of 6.1 percent.
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.
“With 3,900 new jobs added in August 2014, New York State has experienced 21 consecutive months of private sector job growth, the longest stretch on record for nearly a quarter of a century. In addition, our statewide jobless rate fell to 6.4%, its lowest level since November 2008,” said Bohdan M. Wynnyk, Deputy Director of the Division of Research and Statistics.
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news@eastniagarapost.com
The Buffalo-Niagara Falls added 4,100 jobs over August, 2013. Of those 3,900 are in the private sector. Each is an increase of 0.8 percent.
The statewide unemployment rate declined from 6.6 percent to 6.4 percent in August 2014, its lowest level since late 2008. In addition, New York City’s unemployment rate dropped from 7.8% to 7.3%, marking the largest monthly drop in nearly 40 years – as far as records go back.
The unemployement rate outside of New York City is 5.8 percent, better than the national average of 6.1 percent.
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.
“With 3,900 new jobs added in August 2014, New York State has experienced 21 consecutive months of private sector job growth, the longest stretch on record for nearly a quarter of a century. In addition, our statewide jobless rate fell to 6.4%, its lowest level since November 2008,” said Bohdan M. Wynnyk, Deputy Director of the Division of Research and Statistics.
Send an email to news@eastniagarapost.com with "email update" in the subject line.
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