Thursday, August 20, 2020

NYS Economy Added 244,200 Private Sector Jobs in July 2020


State’s Private Sector Job Count Grew Faster Than Nation’s

  In July 2020, the number of private sector jobs in New York State increased over the month by 244,200, or 3.6%, to 7,116,200, according to preliminary figures released today by the New York State Department of Labor. By way of comparison, the U.S. private sector job count grew by 1.3% in July 2020.

New York State's seasonally adjusted unemployment rate increased from 15.6% to 15.9% in July 2020. In July 2020, the number of unemployed New York State residents increased by 60,000, while labor force levels increased by 204,800. The increase in the unemployment rate — despite New York State adding 244,200 private sector jobs — may be explained by a combination of the use of different data sources for the two figures, the use of statistical regression models to determine the unemployment rate, a growing labor force, and the impact of out-of-state workers, among other factors.

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, July 2019 versus July 2020.

See State and Area Job Data (opens in new window)
See Labor Market Overview (opens in new window)
See Jobs and Unemployment Fact Sheet (opens in new window)

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