The Number of Private Sector Jobs in New York State Grew by 0.2% in June, Rising Faster Than the Nation
According to preliminary seasonally adjusted figures released today by the New York State Department of Labor, the number of private sector jobs in New York State increased over the month by 15,000, or 0.2%, to 8,260,000 in June 2023. The number of private sector jobs in the U.S. increased by 0.1% in June 2023.
New York State's private sector jobs (not seasonally adjusted) increased by 190,200, or 2.3%, over the year in June 2023, which was lower than the 2.4% increase in the number of private sector jobs in the U.S.
New York State's seasonally adjusted unemployment rate held constant at 3.9% in June 2023. At the same time, New York State's labor force (seasonally adjusted) increased by 31,200. As a result, the labor force participation rate increased from 61.0% to 61.2% in June 2023.
The number of private sector jobs in New York State is based on a payroll survey of 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 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, June 2022 versus June 2023.
Statewide Industry Employment
June 2023 – Seasonally Adjusted
- On a net basis, the total number of nonfarm jobs in the state increased by 28,100 over the month, while private sector jobs increased by 15,000 in June 2023.
- At the same time, the total number of nonfarm jobs in the nation increased by 209,000, while private sector jobs increased by 149,000.
NYS Job Growth Outpaces That of the Nation
Over-the-Month % Change in Total Nonfarm & Private Sector Jobs, May – June 2023
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Total Nonfarm and Private Sector Jobs Increased in June 2023
Total Nonfarm and Private Sector Jobs (in 1000s), January 1990 – June 2023
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Statewide Unemployment
June 2023 – Seasonally Adjusted
In June 2023, the statewide unemployment held constant at 3.9%.
New York City’s unemployment rate increased from 5.3% to 5.4%. Outside of New York City, the unemployment rate held constant at 2.9%, its lowest rate on records dating back to 1976.
The number of unemployed New Yorkers increased over the month by 1,900, from 382,200 in May to 384,100 in June 2023.
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