NY job creation fell behind nation in 2012

by E.J. McMahon |  | NY Torch

The state Labor Department’s annual re-benchmarked payroll job data is out today — and it doesn’t look good for much of New York.

In 2012, private-sector employment in the Empire State grew by 1.8 percent, compared to the nation’s 2.2 percent. That almost precisely reverses the numbers of the previous year, when the Empire State grew slightly faster than the nation as a whole.

The Labor Department’s press release naturally accentuated the most positive data point — strong seasonally adjusted January numbers for month-to-month growth. Howard Glaser, director of state operations also hyped the short-term trend in a tweet: “Dec 212 – Jan 2013 NYS private setcor job growth 4X greater than the national average.”

But the longer-term numbers aren’t so rosy.

Continuing a long-term trend, New York’s growth is overwhelmingly concentrated downstate, where the number of private jobs was up 2.3 percent. New York City was the regional leader, with growth of 2.6 percent.

Private employment upstate grew by 1 percent, less than half the national average.  The only region to come close to equalling the nation was Albany-Troy-Schenectady, up 2.1 percent.  The state capital area is benefitting from a heavily government subsidized expansion of high-tech and related sectors.

Here’s the table from the Labor Department:

More to follow…

- E.J. McMahon is the President at the Empire Center for Public Policy.