As the economy continued its slow post-pandemic reopening, New York State continued to slowly regain jobs—but preliminary data indicate there was no improvement in the state’s unemployment rate in July.

The Empire State’s private sector payroll job count in July was down 1.18 million jobs, or 14.2 percent, from the same month a year earlier, according to the latest monthly jobs report from the state Labor Department. Nationally, by comparison, private employment was about 10.6 million jobs, or 8.2 percent, below the July 2019 level.

On a monthly basis, New York gained 244,200 jobs in July compared to June, a growth rate of 3.6 percent that the monthly Labor Department press release touted as outstripping the national estimated job growth of just 1.3 percent last month. But New York’s July improvement also represented a slight slowdown from June, when the state added 296,400 jobs, a growth rate of 4.5 percent.

The preliminary, seasonally adjusted estimate of New York’s statewide unemployment rate in July was 15.9 percent, well above the national rate of 10.2 percent. The estimated jobless rate nationally went down almost a full point from the June level of 11.1 percent while New York’s was virtually unchanged (up a statistically insignificant 0.3 percent), mainly because the estimated unemployment rate rose in the rest of the state more than it dropped in New York City. A year ago, New York’s statewide jobless rate stood at just 3.9 percent.

On a regional basis, the employment picture has a familiar pattern, with job losses concentrated in the COVID-19 outbreak hotspot of New York City and its suburban counties.

On a seasonally adjusted basis, statewide private employment has barely recovered to the January 2000 level, as illustrated by the Labor Department chart below.

Tags:

About the Author

E.J. McMahon

Edmund J. McMahon is a senior fellow at the Empire Center.

Read more by E.J. McMahon

You may also like

New York’s Jobs Recovery Chugged to a Near-Halt in October

After rising sharply once the economy began to reopen, private payroll growth in New York ominously ran out of steam in October, according to the state's monthly jobs report. Read More

Fewer Workers, Not More Jobs, Explains NY’s September Unemployment Rate Drop

New York State's unemployment rate has fallen sharply since the economically devastating pandemic lockdown last spring. But as state Comptroller Thomas DiNapoli points out in  his latest economic report, the jobless rate doesn't tell the whole story. Read More

New York’s Private Jobs Rebound Still Trails Most of U.S.

In the seventh month of the coronavirus pandemic, private-sector employment in New York was still recovering more slowly than in other states from the after-effects of the broad spring shutdowns of normal business and social life, according to federal Bureau of Labor Statistics data. Read More

Mixed September for NY: Job Recovery Sluggish, Tax Receipts Up

Continuing a trend from mid-summer, New York's private jobs recovery slowed a little more in September—but state tax receipts came in a bit stronger than expected, according to two monthly reports released by the state late today. Read More

It’s Official: New York State’s Second Quarter Economic Crash Was the Worst on Record

Further evidence of the massive damage done to New York’s economy by the coronavirus pandemic shutdown has emerged in the latest gross domestic product (GDP) data from the federal Commerce Department's Bureau of Economic Affairs. Read More

Sluggish Reopening: NY’s Private Job Count Down 1.1 Million From Pre-Pandemic Level

Six months into the novel coronavirus pandemic, New York State's private-sector employment recovery was the slowest in the 48 contiguous states—and getting slower. Read More

New Data Confirm New York State’s Q1 Economic Plunge

New York's economy ended the first quarter of this year in virtual free fall, the latest federal data show. Read More

NY outlook: worse than 2008-09

#NYcoronavirus: The outlook for New York's economy is the grimmest on record, according to the first post-pandemic lockdown round of credible economic surveys and forecasts. Start with the Federal Reserve Bank of New York, whose regional economists today issued a notably pessimistic report based on their monthly Empire State Manufacturing Survey and a broader Business Leaders Survey that take sin the northern New Jersey and metropolitan New York. Read More

Subscribe

Sign up to receive updates about Empire Center research, news and events in your email.

CONTACT INFORMATION

Empire Center for Public Policy
30 South Pearl St.
Suite 1210
Albany, NY 12207

Phone: 518-434-3100
Fax: 518-434-3130
E-Mail: info@empirecenter.org

About

The Empire Center is an independent, non-partisan, non-profit think tank located in Albany, New York. Our mission is to make New York a better place to live and work by promoting public policy reforms grounded in free-market principles, personal responsibility, and the ideals of effective and accountable government.