Job growth in New York over the past year fell below the national rate for the first time since the recession, Comptroller Thomnas DiNapoli points out in a report issued today.
In a news release summarizing its findings, the comptroller’s office notes that “New York added 110,000 jobs between June 2012 and 2013.”
… [O]ver the same period, national job growth rates exceeded New York’s in nearly every major employment sector – professional services; leisure and hospitality; trade, transportation and utilities; financial activities; and mining, logging and construction.
New York outperformed the nation in education and health job growth, but government jobs decreased in the state by 1.1 percent. The state’s job growth rate, however, declined to 1.8 percent in 2012 from 2.1 percent in 2011. The national rate of growth increased to 2.2 percent from 1.8 percent during that time frame.
This is not exactly shocking news; a comparison of year-over-year growth rates for New York and the nation is a regular feature of the monthly state Labor Department employment report, for example. However, DiNapoli’s report provides very useful in-depth analysis of trends by employment sector. For example, it underscores the continued relative weakness of manufacturing in New York, which has continued to shed jobs more quickly the national average.
The report also features tables comparing New York to national trends in per-capita income and GDP growth, and the following table underscoring New York’s continued reliance on foreign immigrants to make up for its “domestic migration” loss of residents to other states.