Employment statistics can tell us a lot about what’s going on in New York’s economy — but traditional government data don’t tell us much about the underlying forces driving job creation. Information on openings and closings, expansions and contractions, and interstate movements at the employer level has not been as readily available.
From the end of 2007 through 2009, more than eight million jobs were lost. The national unemployment rate rose to more than 10 percent for the first time in nearly 30 years.
This has been a lost decade for employment in New York State, where the total number of payroll jobs is now below the 2000 level.
New York has the worst economic outlook of any state in the nation, according to the latest index of the economic competitiveness issued by the American Legislative Exchange Council (ALEC).
Just because they can’t seem to agree on a state budget, don’t assume that New York lawmakers aren’t finding other ways to threaten the state’s economic future.
Far from being asked to sacrifice during the "Great Recession" that began in December 2007, the data indicate that state and local government workers thrived amid the economic misery afflicting most taxpayers.
Employee compensation in the state and local government sector increased at twice the private-sector rate during the 12 months ending in December, according to national data released todayby the federal Bureau of Labor Statistics.
Could New York’s state government realize significant savings by encouraging private-sector firms to challenge entrenched public-sector monopolies?