Hudson Valley and state lag nation in jobs

By Bill Heltzel

No Comment

New York and the Hudson Valley lost jobs in August and lagged well behind national job growth.

Statewide, there were 35,600 fewer nonfarm jobs, for a month-to-month decline of 0.4 percent. The Hudson Valley labor market declined by 9,100 jobs, or 0.9 percent, according to the New York Department of Labor.

Nationally, jobs grew by 224,000 or 0.2 percent.

Leisure and hospitality took the biggest hit in the region, losing 3,900 jobs or 3.9 percent. The government sector lost 2,500 jobs or 1.6 percent. Education and health services lost 1,200 jobs, or 0.6 percent.

Trade, transportation and utilities picked up 300 jobs, or 0.2 percent, and manufacturing was up by 100 jobs or 0.2 percent.

The state and local labor pictures look brighter on a yearly basis but still lag the national numbers.

The Hudson Valley has gained 13,700 nonfarm jobs from August 2015 to August 2016, or 1.5 percent. Statewide, jobs grew by 125,700 or 1.4 percent. Nationally, job growth is up by nearly 2.5 million jobs or 1.7 percent.

Yearly job growth statewide is concentrated in New York City and its suburbs, accounting for 95 percent of the jobs.

The unemployment rate ticked up a point in August, to 4.8 percent, but is below the 5 percent rate of a year ago.

National unemployment held steady at 4.9 percent and remained below the 5.1 percent rate of a year ago.

The job counts are based on a monthly payroll survey of 18,000 New York employers by the U.S. Bureau of Labor Statistics. The monthly estimates are preliminary and could be revised as more data become available. The unemployment rate is based on the current population survey and a monthly survey of 3,100 households.

The Hudson Valley region includes Columbia, Dutchess, Orange, Putnam, Rockland, Ulster and Westchester counties.


About the author

Bill Heltzel
Bill Heltzel has covered criminal justice, courts, government and sports – as a beat reporter and investigative reporter – for daily newspapers in Florida, Indiana, Ohio, and Pennsylvania. He worked for Bloomberg LP in training and sales. He joined The Business Journal in 2016.

Leave a Reply

Your email address will not be published. Required fields are marked (required)