New York Lost 8,100 Private Sector Jobs in August – Finger Lakes Daily News
According to preliminary seasonally adjusted figures released Thursday by the New York State Department of Labor, the number of private sector jobs in New York State decreased over the month by 8,100, or 0.1%, to 8,393,400 in August 2024. The number of private sector jobs in the U.S. increased by 0.1% in August 2024.
New York State’s private sector jobs (not seasonally adjusted) increased by 147,500, or 1.8%, over the year in August 2024, which was greater than the 1.4% increase in the number of private sector jobs in the U.S.
New York State’s seasonally adjusted unemployment rate increased from 4.3% to 4.4% in August 2024. At the same time, New York State’s labor force (seasonally adjusted) decreased by 8,500. As a result, the statewide labor force participation rate held constant at 61.3% in August 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.
August 2024 – Seasonally Adjusted
- The statewide unemployment rate increased from 4.3% to 4.4% in August 2024.
- New York City’s unemployment rate increased from 5.0% to 5.2%.
- In the rest of the state, the unemployment rate increased from 3.7% to 3.8% in August 2024.
- The number of unemployed New Yorkers increased over the month by 7,900 from 417,900 in July to 425,800 in August 2024.
August 2024 – Seasonally Adjusted
- On a net basis, the total number of nonfarm jobs in the state decreased by 7,400 over the month, while private sector jobs decreased by 8,100 in August 2024.
- At the same time, the total number of nonfarm jobs in the nation increased by 142,000, while private sector jobs increased by 118,000.
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