Regain Losses From ‘Great Recession’
New York State’s economy added 102,700 private sector jobs through August 2012, the State Department of Labor reported last Friday, Sept. 21.
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 York State has 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, New York State’s economy added 3,300 private sector jobs. The private sector job count is based on a payroll survey of 18,000 New York employers conducted by the U.S. 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.
Further, first-time unemployment claims are down 10 percent 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 seven million) in New York State. According to the survey, New York State’s unemployment rate remained unchanged at 9.1 percent in August 2012. Due to the small sample size, this survey is not comprehensive.
“New York continues 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.
The number of unemployed New Yorkers increased slightly over the month-from 869,400 in July 2012 to 872,100 in August 2012. Since August 2011, the number of private sector jobs in the state increased by 132,600, or 1.8 percent. Over the same time frame, the nation’s private sector job count also increased by 1.8 percent.
In the 10-county Downstate region, private sector jobs grew by 2.3 percent over the past year. Within the Downstate region, jobs grew by 2.9 percent in New York City and by 1.1 percent in the suburban counties.
Professional and business services added the most jobs (up 56,500) of any sector between August 2011 and August 2012. Sector job gains over this period were focused in professional, scientific and technical services (up 34,900) and administrative and support services (up 20,400).
Private educational and health services (up 38,100) had the second largest increase in jobs over the past year. Sector employment gains occurred in both health care and social assistance (up 19,100) and educational services (up 19,000).
Over the past year, government lost more jobs (down 15,300) than any other sector in the state. Job losses in the government sector were concentrated at the local (down 10,700) level.
The construction sector lost 10,800 jobs. Sector job losses were concentrated in specialty trade contractors (down 10,400).
For New York, during the week that included Aug. 12, there were 399,845 people (including 366,965 who live in the state) who received benefits under regular unemployment insurance, federal emergency unemployment compensation or federal extended benefits programs.
New Yorkers who received unemployment insurance made up 42 percent of the total unemployed in the state in August 2012.
On Sept. 2, the weeks of available benefits in emergency unemployment compensation Tier 1 were reduced from 20 to 14. In addition, the weeks of available benefits in emergency unemployment compensation Tier 3 were reduced from 13 to nine.
On Sept. 9, emergency unemployment compensation Tier 4 ended in New York State. Claimants who exhausted Tier 3 benefits by Sept. 9, may continue to collect up to 6 weeks of Tier 4 benefits through December. Claimants who exhausted Tier 3 after Sept. 9, moved to extended benefits on Sept. 16.
On Sept. 16, claimants in New York State again became eligible for up to 20 weeks of EB. This is because the 3-month average seasonally adjusted unemployment rate again meets the federal criteria. Unemployed claimants who had received fewer than 20 weeks of extended benefits when it ended in June 2012 may pick up where they left off and continue to receive extended benefits.
Claimants who exhaust Tier 4 prior to Dec. 30, will move into extended benefits. Claimants who exhaust Tier 3 on or after Sept. 16, but prior to Dec. 30, 2012, will also move into extended benefits.
For more information on unemployment insurance, visit www.labor.ny.gov.
