November 16, 2001
Latest figures on New York's job growth show mixed performance in last 12 months
New York State's total jobs declined 0.4 percent in October 2001 compared to the same period the previous year, new government job figures analyzed by The Public Policy Institute show.
The data originate with the state Department of Labor and the U.S. Bureau of Labor Statistics.
During the same 12-month period ending in October, New York's private-sector employment shrank 0.7 percent. Nationally, private-sector employment also shrank by 0.7 percent during this period.
The data also show that:
- With its 12-month job loss rate of 0.4 percent, New York failed to keep pace with the nation for the first time in a year. During the same period, the nation lost jobs at a rate of 0.3 percent.
- New York City lost 60,300 jobs during this periodmost of them before Sept. 11.
- During this 12 month period, total employment grew in Long Island, the northern New York City suburbs, the capital region, Rochester, Syracuse, the Utica-Rome region, and upstate as a whole. Employment shrank in New York City, Binghamton, Buffalo/Niagara Falls, Dutches County, Elmira, Glens Falls, Jamestown, and the Newburgh area.
- Between September and October of this year, New York City lost many jobs in finance, insurance, and real estate. During that period, New York state lost 24,700 jobs in that sector, most of which are in New York City. The statewide job loss in this sector in the previous 11 months was 1,800 jobs.
- Statewide employment not seasonally adjusted actually increased from September to October by 8,800 jobs, the numbers show. During that month, Westchester, Long Island and most upstate areas (including Albany, Binghamton, Buffalo, Dutchess, Elmira, Rochester, Syracuse and Utica-Rome) gained jobs. Seasonal adjustments to September job data may be skewed by the extraordinary events of Sept. 11.
- In the 12-month period ending in October, New York lost manufacturing jobs at a rate of 4.8 percent, but the nation fare even worse, losing manufacturing jobs at a rate of 6 percent, the data show.