Private sector jobs in New York State increase in November by 0.5% - NYSDL

Private sector jobs in New York State increase in November by  0.5% - NYSDL

The number of private sector jobs in New York State increased over the month of November, 2020 by 36,300, or 0.5%, to 7,385,800, according to preliminary figures released Thursday by the New York State Department of Labor. 

This represents the seventh straight month of job gains for the Empire State.

By comparison, the number of private sector jobs in the U.S. grew by 0.3% in November 2020. 

New York State's private sector job count grew faster than the nation's for the fifth straight month in November.

New York State's seasonally adjusted unemployment rate decreased from 9.2% in October to 8.4% in November 2020.

The number of private sector jobs in New York State is based on a payroll survey of 18,000 New York businesses conducted by the U.S. Department of Labor’s Bureau of Labor Statistics (BLS). 

Monthly payroll employment estimates are preliminary and subject to revision as more complete data become available the following month. 

The BLS calculates New York State’s unemployment rate based partly upon the results of the monthly Current Population Survey (CPS) of approximately 3,100 households in the State.

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, November 2019 versus November 2020.

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 from the monthly Current Population Survey (CPS) of approximately 3,100 households in New York State.

In November 2020, the statewide unemployment rate decreased from 9.2% to 8.4%. New York City’s unemployment rate decreased over the month from 13.0% to 12.1%. Outside of New York City, the unemployment rate decreased from 6.5% to 5.7%.

The number of unemployed New Yorkers decreased over the month by 64,400, from 835,600 in October to 771,200 in November 2020.

On the change in jobs by major industry sector between November 2019-November 2020, sectors that saw job losses included: Leisure and Hospitality-325,600, Trade, Transportation and Utilities-158,400, Educational and Health Services*-141,000, Professional and Business Services-132,100, Other Services-56,200, Manufacturing-44,300, Government*-41,100, Financial Activities-40,600, Construction-27,200, Information-11,500 and Natural Resources and Mining-800.