
NYS Private Sector Employment Up 10,800 Jobs in July
According to preliminary seasonally adjusted figures released today by the N.Y. State Department of Labor, the number of private sector jobs in New York State increased over the month by 10,800, or 0.1%, to 8,401,600 in July 2024. The number of private sector jobs in the U.S. also increased by 0.1% in July 2024.
N.Y. State's private sector jobs (not seasonally adjusted) increased by 159,900, or 1.9%, over the year in July 2024, which was greater than the 1.4% increase in the number of private sector jobs in the U.S.
N.Y. State's seasonally adjusted unemployment rate increased from 4.2% to 4.3% in July 2024. At the same time, N.Y. State's labor force (seasonally adjusted) increased by 700. As a result, the statewide labor force participation rate held constant at 61.3% in July 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.
Note: Seasonally adjusted data provide the most valid month-to-month comparison. Non-seasonally adjusted data are valuable in year-to-year comparisons of the same month – for example, July 2023 versus July 2024.
Statewide Industry Employment
July 2024 – Seasonally Adjusted
On a net basis, the total number of nonfarm jobs in the state increased by 41,400 over the month, while private sector jobs increased by 10,800 in July 2024.
At the same time, the total number of nonfarm jobs in the nation increased by 114,000, while private sector jobs increased by 97,000.
NYS Exceeded Nation in Nonfarm Job Growth
Over-the-Month % Change in Total Nonfarm & Private Sector Jobs, June 2024 – July 2024
[GRAPH]
The statewide unemployment rate increased from 4.2% to 4.3% in July 2024.
Yates County's unemployment was 3.1% in June, second only to Columbia County at 2.8%
New York City's unemployment rate increased from 4.8% to 5.0%.
In the rest of the state, the unemployment rate held steady at 3.7% in July 2024.
The number of unemployed New Yorkers increased over the month by 9,100 from 408,700 in June to 417,800 in July 2024.
Unemployed and UI Beneficiaries - The estimate of the number of unemployed includes all persons who had no employment during the reference week (the week including the 12th of the month), were available for work, except for temporary illness, and had made specific efforts to find employment sometime during the 4-week period ending with the reference week. Unemployment insurance (UI) beneficiaries include those who apply for and qualify for UI benefits. Consequently, the estimate of the number of unemployed and the number of UI beneficiaries do not necessarily move in tandem.