Unemployment Rate Holds Steady Over the Month
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 6,900, or 0.1%, to 8,379,000 in June 2024. The number of private sector jobs in the U.S. also increased by 0.1% in June 2024.
New York State's private sector jobs (not seasonally adjusted) increased by 108,600, or 1.3%, over the year in June 2024, which was less than the 1.5% increase in the number of private sector jobs in the U.S.
New York State's seasonally adjusted unemployment rate held steady at 4.2% in June 2024. At the same time, New York State's labor force (seasonally adjusted) decreased by 3,000. As a result, the statewide labor force participation rate held constant at 61.3% in June 2024.
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 2023 versus June 2024.
Statewide Industry Employment
June 2024 – Seasonally Adjusted
- On a net basis, the total number of nonfarm jobs in the state increased by 13,200 over the month, while private sector jobs increased by 6,900 in June 2024.
- At the same time, the total number of nonfarm jobs in the nation increased by 206,000, while private sector jobs increased by 136,000.
NYS Matched Nation in Job Growth
Over-the-Month % Change in Total Nonfarm & Private Sector Jobs, May 2024 – June 2
Total Nonfarm and Private Sector Jobs Increased in June 2024Total Nonfarm and Private Sector Jobs (in 1000s), January 1990 – June 2024 Statewide UnemploymentJune 2024 – Seasonally Adjusted
NYS Unemployment Rate Unchanged Over the MonthLabor Force Statistics, June 2023, May 2024 – June 2024
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