NYS Economy Added 96,300 Private Sector Jobs in August 2020 After 4 Straight Months of Job Gains, New York’s Unemployment Rate Falls to 12.5%

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From the NYS Department of Labor:


New York’s Private Sector Job Count Grew by 1.4% in August, Rising Faster than Nation’s for 3rd Month Straight
In August 2020, the number of private sector jobs in New York State increased over the month by 96,300, or 1.4%, to 7,198,600, according to preliminary figures released today by the New York State Department of Labor. This represents the fourth straight month of job gains for the Empire State. New York’s private sector job count outpaced the nation’s private sector job growth  — 0.9% in August 2020 — for the third month in a row.New York State’s seasonally adjusted unemployment rate decreased from 15.9% to 12.5% in August 2020. In August 2020, the number of unemployed New York State residents decreased by 339,000, while labor force levels decreased by 86,700. 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. Note: 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, August 2019 versus August 2020. 

United States and New York State: July – August 20201) Jobs data (seasonally adjusted):The table below compares the month-over-month change in total nonfarm and private sector jobs in the United States and New York State.Change in Total Nonfarm and Private Sector Jobs
July – August 2020 

Change in Total Nonfarm Jobs:
(private sector + government)Change in
Private Sector Jobs:
 Net%Net%United States+1,371,000+1.0+1,027,000+0.9New York State+153,300+1.8+96,300+1.4 
2) Unemployment rates (seasonally adjusted):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 August, the statewide unemployment rate decreased from 15.9% to 12.5%. New York City’s unemployment rate decreased over the month from 19.9% to 16.0%. Outside of New York City, the unemployment rate decreased from 13.1% to 9.9%.The number of unemployed New Yorkers decreased over the month by 339,000, from 1,525,900 in July to 1,186,900 in August 2020.

Unemployment Rates (%)**Data are preliminary and subject to change.
**Revised data. August 2020*July 2020August 2019United States8.410.23.7New York State12.515.93.9New York City16.019.9**3.8NYS, outside NYC9.913.14.0 United States, New York State and Metro Areas: August 2019 – August 20201) Jobs data (not seasonally adjusted):The following table compares the changes in total nonfarm and private sector jobs occurring in the U.S., New York State and metro areas in the state, between August 2019 and August 2020.

Change in Total Nonfarm and Private Sector Jobs by Area
August 2019 – August 2020
 Change in
Total Nonfarm Jobs:

(private sector + government)Change in
Private Sector Jobs:
Note: The sum of sub-state area job estimates will usually differ from the New York State total. This is because the State total is calculated separately from the sub-state areas and is estimated based on an independent sample. Net%Net% United States-10,543,000-7.0-9,757,000-7.5New York State-1,196,500-12.2-1,096,900-13.2    Albany-Schenectady-Troy-44,200-9.4-40,900-11.0    Binghamton-7,400-7.3-6,900-8.4    Buffalo-Niagara Falls-53,800-9.5-47,400-9.9    Dutchess-Putnam-15,500-10.5-12,800-10.5    Elmira-300-0.8-700-2.3    Glens Falls-9,500-16.1-9,400-19.1    Ithaca-2,300-3.8-2,800-5.2    Kingston-3,600-5.8-3,400-6.9    Nassau-Suffolk-152,200-11.2-141,000-12.1    New York City-626,600-13.6-602,700-14.9    Orange-Rockland-Westchester-93,400-12.8-78,900-12.7    Rochester-63,500-11.9-53,600-11.6    Syracuse-38,100-11.8-36,100-13.6    Utica-Rome-13,400-10.4-10,000-10.2    Watertown-Fort Drum-6,000-14.2-4,700-15.4    Non-metro counties-49,700-9.6-46,300-11.8Change in jobs by major industry sector: August 2019 – Augst 20201) Jobs data (not seasonally adjusted):The table below compares the change in jobs by major industry sector in New York State occurring between August 2019 – August 2020.

Change in Jobs by Major Industry Sector
August 2019 – August 2020
*Educational and health services is in the private sector. Government includes public education and public health services.Sectors With Job Losses:Leisure & Hospitality-403,200Trade, Transportation & Utilities-187,800Professional & Business Services-171,100Educational & Health Services*-130,500Government*-99,600Other Services-59,400Financial Activities-45,500Construction-41,700Manufacturing-40,700Information-16,200Natural Resources & Mining-800 Highlights among New York State sectors with job losses since August 2019:Within the leisure and hospitality sector, job losses were greatest in accommodation and food services (-311,100), especially food services and drinking places (-242,000).Within the trade, transportation and utilities sector, job losses were focused in retail trade (-99,100), especially clothing and accessories stores (-47,900).Within the professional and business services sector, job losses were concentrated in administrative and support services (-106,400) and professional, scientific and technical services (-52,500). Note: The responsibility for the production of monthly estimates of state and metro area nonfarm employment by industry moved from the NYS Department of Labor’s Division of Research and Statistics to the U.S. Bureau of Labor Statistics (BLS), starting with the March 2011 estimates. More detailed information on the change is available on the BLS website.Many economic data series have a seasonal pattern, which means they tend to occur at the same time each year (e.g., retail jobs usually increase in December). Seasonal adjustment is the process of removing seasonal effects from a data series. This is done to simplify the data so that they may be more easily interpreted and help to reveal true underlying trends. Seasonal adjustment permits comparisons of data from one month to data from any other month.In New York State, payroll jobs data by industry come from a monthly survey of 18,000 business establishments conducted by the U.S. Bureau of Labor Statistics. Data are preliminary and subject to revision. Jobs data by industry do not include agricultural workers, the self-employed, unpaid family workers or domestic workers in private households.Labor force statistics, including the unemployment rate, for New York and every other state are based on statistical regression models specified by the U. S. Bureau of Labor Statistics. The state’s unemployment rate is based partly upon the results of the Current Population Survey, which contacts approximately 3,100 households in New York each month.

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