In 2012,New YorkState’s economy added 102,700 private sector jobs, the State Department of Labor reported today. This year-to-date increase in the job count contributed to the state’s recovery of 348,000 private sector jobs since November 2009. New YorkStatehas regained all of the private sector jobs it lost during the state’s recession. Only four other states have regained all of the private sector jobs lost in the recession.
In August 2012,New YorkState’s economy added 3,300 private sector jobs. The private sector job count is based on a payroll survey of 18,000New Yorkemployers conducted by the United States Department of Labor (USDOL). Due to the sample size, this survey is considered a reliable gauge of the state’s economy for any given month.
New YorkStatehas regained all of the jobs it lost during the recession and added over 102,000 private sector jobs this year alone. Further, first-time unemployment claims are down 10% from a year ago.
By contrast, the unemployment rate as determined by USDOL is calculated primarily on the results of a telephone survey of 3,100 households (out of more than 7 million) inNew YorkState. According to the survey,New YorkState’s unemployment rate remained unchanged at 9.1% in August 2012. Due to the small sample size, this survey is not comprehensive.
“New YorkStateadded more than 102,000 private sector jobs in 2012 alone and is among only five states in the nation to regain all of the jobs lost in the recession. New Yorkcontinues to see steady job growth and a decrease in first-time unemployment claims,” said Bohdan M. Wynnyk, Deputy Director of NYS Division of Research and Statistics.