New York State’s unemployment rate, after seasonal adjustment, increased from 4.3 percent in January 2007 to 4.4 percent in February 2007. The nation’s rate decreased over the same period, from 4.6 percent to 4.5 percent. New York City’s seasonally adjusted unemployment rate decreased from 4.9 percent in January 2007 to 4.8 percent in February 2007. The rate in the balance of the state outside New York City increased over the month, from 4.0 percent to 4.1 percent.
In February 2007, New York State had 8,545,700 total nonfarm jobs, including 7,045,800 private sector jobs. From January 2007 to February 2007, the number of nonfarm jobs increased by 42,200 and the number of private sector jobs increased by 23,600. Typically, both the total nonfarm and the private sector job counts increase between January and February. On average, in the previous ten years, the number of nonfarm jobs in New York increased by 49,500 from January to February, and the number of private sector jobs increased by 26,200.
The not seasonally adjusted job count increased over the month in educational and health services (+33,900), government (+18,600), leisure and hospitality (+7,400), professional and business services (+4,800), other services (+1,600), information (+1,200), and financial activities (+800). The job count decreased over the month in trade, transportation and utilities (-19,600), construction (-5,700), manufacturing (-600), and natural resources and mining (-200).
5.) New York State nonfarm job highlights since January 2007 (not seasonally adjusted):
Educational and health services
Over-the-month employment increases were mostly due to seasonal gains at colleges, universities and professional schools.
Government
The increase in public sector employment reflected the return of local elementary and secondary schools, as well as public colleges and universities, from winter break.
Leisure and hospitality
Leisure and hospitality employment increased, with hiring focused in accommodation and food services, particularly food services and drinking places.
Professional and business services
Tax season continued, with hiring concentrated in accounting, tax preparation, and bookkeeping and payroll services. In addition, administrative and support services added jobs over the month.
Other services
Over-the-month hiring was centered in religious, grant-making, civic, professional and similar organizations.
Information
This month’s gain in information sector employment was focused in the publishing industries (except Internet).
Financial activities
Gains in finance and insurance, due mainly to increases in securities, commodity contracts and related activities, outpaced losses in real estate and rental leasing.
Natural resources and mining
Natural resources and mining sector employment experienced a small decrease.
Manufacturing
Manufacturing employment decreased over the month with losses centered in durable goods.
Construction
Construction sector employment decreased seasonally, especially in specialty trade contractors.
Trade, transportation and utilities
Most of this month's employment decrease reflected seasonal losses in retail trade, particularly in clothing and clothing accessories stores and general merchandise stores.
6.) Metropolitan Areas:
Job Growth and Unemployment Rates (not seasonally adjusted):
Albany-Schenectady-Troy: Since February 2006, the number of nonfarm jobs has increased by 300, or 0.1 percent, and the number of private sector jobs has increased by 700, or 0.2 percent. The area’s unemployment rate was 4.4 percent in February 2007, compared with 4.4 in January and 4.5 in February 2006.
Binghamton: Since February 2006, the number of nonfarm jobs has increased by 1,200, or 1.1 percent, and the number of private sector jobs has increased by 1,200, or 1.4 percent. The area’s unemployment rate was 5.3 percent in February 2007, compared with 5.1 in January and 5.4 in February 2006.
Buffalo-Niagara Falls: Since February 2006, the number of nonfarm jobs has increased by 4,000, or 0.7 percent, and the number of private sector jobs has increased by 1,200, or 0.3 percent. The area’s unemployment rate was 5.4 percent in February 2007, compared with 5.4 in January and 6.0 in February 2006.
Elmira: Since February 2006, the number of nonfarm jobs has decreased by 400, or 1.0 percent, and the number of private sector jobs has decreased by 100, or 0.3 percent. The area’s unemployment rate was 5.5 percent in February 2007, compared with 5.3 in January and 5.8 in February 2006.
Glens Falls: Since February 2006, the number of nonfarm jobs has increased by 1,000, or 1.9 percent, and the number of private sector jobs has increased by 800, or 2.0 percent. The area’s unemployment rate was 5.6 percent in February 2007, compared with 5.4 in January and 5.9 in February 2006.
Ithaca: Since February 2006, the number of nonfarm jobs increased by 100, or 0.2 percent, and the number of private sector jobs was unchanged. The area’s unemployment rate was 3.3 percent in February 2007, compared with 3.8 in January and 3.6 in February 2006.
Kingston: Since February 2006, the number of nonfarm jobs has increased by 1,100, or 1.7 percent, and the number of private sector jobs has increased by 1,000, or 2.1 percent. The area’s unemployment rate was 4.4 percent in February 2007, compared with 4.4 in January and 4.8 in February 2006.
Nassau-Suffolk: Since February 2006, the number of nonfarm jobs has increased by 14,000, or 1.2 percent, and the number of private sector jobs has increased by 12,900, or 1.3 percent. The area’s unemployment rate was 4.1 percent in February 2007, compared with 4.1 in January and 4.4 in February 2006.
New York City (five boroughs): Since February 2006, the number of nonfarm jobs has increased by 60,100, or 1.7 percent, and the number of private sector jobs has increased by 62,200, or 2.0 percent. The area’s unemployment rate was 5.1 percent in February 2007, compared with 5.3 in January and 5.6 in February 2006.
Poughkeepsie-Newburgh-Middletown: Since February 2006, the number of nonfarm jobs has increased by 3,100, or 1.2 percent, and the number of private sector jobs has increased by 2,600, or 1.3 percent. The area’s unemployment rate was 4.4 percent in February 2007, compared with 4.3 in January and 4.5 in February 2006.
Putnam-Rockland-Westchester: Since February 2006, the number of nonfarm jobs has increased by 6,500, or 1.2 percent, and the number of private sector jobs has increased by 5,100, or 1.1 percent. The area’s unemployment rate was 3.9 percent in February 2007, compared with 3.9 in January and 4.3 in February 2006.
Rochester: Since February 2006, the number of nonfarm jobs has increased by 1,100, or 0.2 percent, and the number of private sector jobs has increased by 700, or 0.2 percent. The area’s unemployment rate was 5.0 percent in February 2007, compared with 4.9 in January and 5.2 in February 2006.
Syracuse: Since February 2006, the number of nonfarm jobs has increased by 1,200, or 0.4 percent, and the number of private sector jobs has increased by 1,000, or 0.4 percent. The area’s unemployment rate was 5.1 percent in February 2007, compared with 5.1 in January and 5.5 in February 2006.
Utica-Rome: Since February 2006, the number of nonfarm jobs has increased by 700, or 0.5 percent, and the number of private sector jobs has increased by 300, or 0.3 percent. The area’s unemployment rate was 5.4 percent in February 2007, compared with 5.3 in January and 5.7 in February 2006.
Note: The unemployment rate for New York and every other state is based on statistical regression models specified by the U. S. Bureau of Labor Statistics. Job data for New York are obtained from a survey of 18,000 business establishments. Job data exclude agricultural workers, the self-employed, unpaid family workers and domestic workers in private households.
