The private sector continues to add jobs in the Hudson Valley, outpacing the nation and most of New York state in the 12 months ending in February.
Most of the job growth, according to the state Department of Labor, can be attributed to two sectors: in education and health services and in natural resources, mining and construction. Both sectors added about 8,000 jobs.
The job growth reflects several big projects and trends, such as the Tappan Zee Bridge project, groundbreakings for several mixed-use retail and residential projects, and expansion of regional hospitals and other health care facilities.
Overall, private sector employment in the Hudson Valley increased by 18,900, to 766,800.
That amounts to a 2.5 percent growth rate and compares to a 1.6 percent for the state and 2.2 percent for the nation in the past 12 months. Only New York City, with a 2.9 percent employment growth, outperformed the Hudson Valley among the state”™s ten regions.
Jobs were lost in two sectors over the past year. Leisure and hospitality contracted by 3,600 jobs and manufacturing lost 700 jobs. The loss of leisure and hospitality jobs might be a temporary “hiccup” due to a mild winter, John Nelson, a labor market analyst for the state labor department explained.
The job count is based on a payroll survey of 18,000 state employers by the U.S. Department of Labor. The Hudson Valley numbers cover Dutchess, Orange, Putnam, Rockland, Sullivan, Ulster, and Westchester counties.
New York”™s unemployment rate decreased to 4.8 percent in February, from 4.9 percent in January. Unemployment is at the lowest rate since November 2007, according to the state Department of Labor. Â A new unemployment report will be released on Tuesday.
