NY job growth trails nation again

by E.J. McMahon |  | NY Torch

Job growth in the Empire State trailed the nation once again in March. New York’s 12-month increase in payroll jobs was 1.5 percent, compared to a 2 percent growth rate throughout the U.S, according to the state Department of Labor (DoL).

screen-shot-2014-04-17-at-14026-pmNinety percent of New York’s net new private-sector jobs — 97,900 out of 108,200 — materialized in the downstate region (i.e., New York City, Long Island, and the Hudson Valley up to the northern borders of Dutchess and Orange).

On a seasonally adjusted basis, New York State added no jobs at all between February and March, a period in which employment nationally grew by 0.2 percent.

The regional snapshot from the DoL press release (see below) tells a now-familiar story: New York City relatively strong, Long Island OK, Hudson Valley not so hot, and upstate essentially flat.

The fastest-growing sector of the economy remains Education and Health Services, which is heavily subsidized by government. Manufacturing was the biggest loser. A snapshot from the release:

Screen Shot 2014-06-03 at 2.59.24 PM

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