New York’s economy grows by 10,400 jobs; jobless rate drops to 7.1%
ALBANY - New York State’s unemployment rate decreased from 7.4% to 7.1% in December 2013, its lowest level since January 2009, according to preliminary figures released today by the New York State Department of Labor. Since only October, the state’s jobless rate has dropped by 0.6 percentage points. New York State, which makes up about 6.5% of the nation’s jobs, accounted for 12% of private sector job growth nationally.
During December, the state’s economy added 10,400 private sector jobs. This raised New York State’s private sector job count to 7,503,700, an all-time high. Since the beginning of Governor Andrew M. Cuomo’s administration, the New York State economy has added 390,600 private sector jobs and experienced employment growth in 31 of the past 36 months.
The state’s private sector job count is based on a payroll survey of 18,000 New York employers conducted by the U.S. Department of Labor’s Bureau of Labor Statistics. Monthly payroll employment estimates are preliminary and subject to revision as more information becomes available the following month.
The federal government calculates New York’s unemployment rate partly based upon the results of a monthly telephone survey of 3,100 households in the state.
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