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.