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July 21, 2000

Walsh: Strong job growth shows New York was right to improve its business climate

Strong job growth statewide last month "proves again that we've been right all along in saying that a better business climate means a better New York," said Daniel B. Walsh, president/CEO of The Business Council.

In June 2000, New York State had 159,900 more private-sector jobs than it did in June of 1999, according to figures released by the state on July 20.

That was ahead of the national growth rate of 2.2 percent, according to Stephen Kagann, chief economist for the Pataki administration. The downstate growth rate for the 12-month period was 2.5 percent; the upstate growth rate was 1.8 percent.

More opportunities and increasing wages have drawn 146,000 more New Yorkers into the labor force over the last 12 months, an increase of 1.6 percent, Kagann noted. The national growth rate over the same period was 1 percent, which both upstate (1.6 percent) in downstate (1.7 percent) outpaced.

"Governor Pataki and the Legislature were right to reduce taxes, ease regulations, reform unemployment insurance in workers compensation, and take other steps to improve New York's business climate," Walsh said.

"And more of the same improvements will bring more of the same benefits," he added. "We can and should cut taxes more. More workers' comp reform is both possible and necessary. And there are many other steps we can take to build on our progress to date.

Walsh pledged that New York's business community will continue to work closely with lawmakers to formulate policies that will make further job growth possible.

To read Stephen Kagann's statement, click here.