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Author: Josh S
Labor Statistics for the New York City Region –
For the 12-month period ending December 2016, the private sector job count in New York City rose by 58,300, or 1.5 percent, to 3,825,300. Job gains were largest in educational and health services (+25,500), leisure and hospitality (+14,700), trade, transportation and utilities (+8,000), professional and business services (+7,700), other services (+6,400) and natural resources, mining and construction (+3,100). Losses were focused in financial activities (-4,200), information (-2,200) and manufacturing (-700).
The city’s over-the-year picture remained positive, with six sectors adding jobs for the 12 months through December 2016 while only three lost jobs. The city’s over-the-year private sector growth rate (+1.5 percent) was above the comparable rate for the state (+1.2 percent) and equal to the nation’s (+1.5 percent).
The city’s seasonally-adjusted unemployment rate was 5.2 percent in December 2016, down 0.5 of a point from November but unchanged from a year ago. New York State’s rate was 4.9 percent in December 2016. The share of the city’s working-age population (16+) who were employed was 56.6 percent in December 2016.
Average Tech Job Vacancy Stands at 26.6 Days
The DHI-DFH Mean Vacancy Duration measure found the average job vacancy duration of Professional and Business Services jobs to be 26.6 working days in 2016. In July, technology jobs remained open for 27.3 working days, down from a revised 27.8 working days in May. This is slightly below the national average of 28.7 working days.
The DHI-DFH vacancy duration measure reflects the vacancy concept in the Job Openings and Labor Turnover Survey (JOLTS) in the United States. Specifically, a job opening gets “filled” according to JOLTS when a job offer for the open position is accepted. So the vacancy duration statistics refer to the average length of time required to fill open positions. Typically, there is also a lag between the fill date and the new hire’s start date on the new job.
“The unemployment rate in the U.S. is nearing full employment and that means employers everywhere are competing to hire hard-to-find candidates. This struggle is particularly acute in healthcare, technology and the financial services industries,” said Michael Durney, President and CEO of DHI Group, Inc.
Meanwhile, the DHI-DFH Recruiting Intensity index saw the intensity of companies to fill tech jobs jump from 1.06 in July from 0.96 in June.
This recruiting intensity includes actions by employers to fill a job, including payments on help wanted ads, certain recruiting methods, applicant screening process, hiring standards and the attractiveness of compensation packages offered to prospective new hires.
“High turnover levels and low unemployment rates make for a very tight tech labor market,” said Bob Melk, President of Dice. “Thus, we have seen employers focus on critical roles and channel their recruitment efforts in an attempt to attract and land the best tech talent.”
The DHI Hiring Indicators offer labor market insights from career provider DHI Group, Inc. and Dr. Steven Davis, William H. Abbott Professor of International Business and Economics at the University Of Chicago Booth School Of Business and a Visiting Fellow at the Hoover Institution.
http://insights.dice.com/2016/09/27/average-tech-job-vacancy-26-days/
Tech Unemployment Hit 3 Percent Last Month
The tech unemployment rate hit 3 percent in September, a slight uptick from 2.8 percent in August, according to new data from the U.S. Bureau of Labor Statistics (BLS); unemployment for the general economy also rose month-over-month, to 5 percent.
Data processing, hosting, and related services added 600 jobs in September, bringing the segment’s total for the year to 1,800; technology consulting also gained 5,400 positions during the month, raising its year-to-date total to 63,700.
However, computer and electronic product manufacturing bled 1,500 jobs, contributing to the 7,300 lost in that area in 2016 so far. Although some manufacturing segments continue to perform strongly on the employment—earlier this year, CompTIA reported that computing and peripheral equipment fabrication actually saw some job gains—a combination of outsourcing and automation has steadily eroded manufacturing positions overall.
Tech pros have displayed a willingness to move to new states in search of better opportunities, according to a recent Dice analysis of job application data. While many of the strongest migratory patterns are regional, many of these pros are more than happy to move across the country to land that one incredible job. For employers, that means casting the widest possible hiring net can actually yield good results, provided the position in question offers the right combination of salary and perks.
Those employers and hiring managers who want to evaluate how their salary offers compare to the rest of the industry can check out Dice’s salary-comparison tool. Just remember that no salary exists in a vacuum; geographical factors, along with individual attributes such as experience and certifications, also play a huge factor in how much tech pros end up getting paid (and how much companies need to offer in order to remain competitive).
With competition fierce for top talent, there’s also the matter of benefits; a tech pro deciding to take a particular job may not end up a question of salary, but whether the company offers sweeteners such as flexible work hours and free training. Keep that in mind when reviewing the top candidates for a position.
http://insights.dice.com/2016/10/11/tech-unemployment-hit-3-percent/
NYS Economy Added 120,400 Private Sector Jobs over the Past Year
Albany, NY (September 15, 2016) –
From August 2015 to August 2016, New York State’s private sector job count climbed by 120,400, or 1.5 percent, according to preliminary figures released today by the New York State Department of Labor. In August 2016, the state’s private sector job count fell by 12,400. Since the beginning of Governor Andrew M. Cuomo’s administration, New York State’s economy has added 843,700 private sector jobs and experienced employment growth in 58 of the past 68 months.
In August 2016, the statewide unemployment rate increased from 4.7% to 4.8%, but remained below the comparable U.S. unemployment rate of 4.9%.
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 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.
“Looking over the past year, the New York State economy has added more than 120,000 private sector jobs and our statewide unemployment rate has dropped by 0.2 percentage points. In addition, in August 2016 the state’s jobless rate remained below the nation’s comparable rate,” said Bohdan M. Wynnyk, Deputy Director of the New York State Department of Labor’s Division of Research and Statistics.