The number of people filing first-time applications for unemployment benefits in New York state rose significantly for a second straight week, signaling a recent rise in layoffs in the state.
Initial unemployment claims rose by 15 percent to 17,127 in the week ending Oct. 15 from 14,855 the week before.
That’s according to a news release issued Thursday by the U.S. Department of Labor, citing advanced data provided by the state.
Last week’s increase follows a 16 percent jump in New York’s jobless claims in the week ending Oct. 8 from 12,762 claims the week prior. That increase was led by higher layoffs in New York’s transportation and warehousing, manufacturing, construction, and accommodation and food service industries, according to the news release. New York posted the fourth largest rise in initial claims among the 50 states that week.
To be sure, the state data is not seasonally adjusted and is subject to revision. As a result, weekly jobless claims tend to be fairly volatile from week to week and affected by seasonal factors.
Also, the recent rise in initial jobless claims in the Empire State comes after unemployment-benefit applications in New York had fallen to 16-year lows in late September.
Data in the forthcoming weeks bears watching to see if an increase in unemployment claims and layoffs in New York is a sustained trend.
Contact Rombel at arombel@cnybj.com