New York’s unemployment rate rose to 9.1 percent in July, but so did the state’s labor force, according to the Department of Labor. At the same time, the state showed a job loss due to a labor-management dispute at Consolidated Edison in New York City.
The now-resolved dispute caused 8,500 utility workers to go uncounted during the state’s private-sector job count in July. As a result, the state showed a loss of 4,100 private-sector jobs as well as 3,700 nonfarm jobs during the month.
The state’s 9.1 percent unemployment rate was up from 8.9 percent in June and 8.2 percent in July 2011.
(Sponsored)
Embracing CHange Across the Generations
CH Insurance, Your LOCAL Partner for Insurance, Risk Management & Group Benefits Massive shifts have transformed workplaces and the world, including the insurance industry. From the advent of AI and
Insurance Rates: What is really going on with these premiums and why they seem to be increasing!
This is a question we continuously get asked at CH Insurance. Clients with a good loss history, timely payments, excellent credit, and very good policies and procedures. All across the
Since July 2011, the state’s labor force grew by more than 100,000 as more job seekers re-entered the labor market. The state’s number of discouraged workers — those not currently looking for work because they believe no jobs are available — decreased 21.6 percent for the 12-month period ending July 2012.
“Growth in our statewide labor force in recent months has contributed to a higher state jobless rate, as more New Yorkers have confidence in the job market,” Bohdan M. Wynnyk, deputy director of the Labor Department’s Division of Research and Statistics, said in a release.
While the state’s overall figures showed a job loss, several industry sectors did show job gains over the past year. Professional and business services added 52,500 jobs while education and health services added 38,500 jobs.
During the same period, the government sector lost 8,900 jobs and the construction sector lost 6,800 jobs.
The Binghamton region gained 2,200 nonfarm jobs and 2,200 private-sector jobs. The Syracuse area lost 300 non-farm jobs and didn’t gain any private-sector jobs. The Utica-Rome area showed the second highest job gains in the state behind Ithaca, adding 3,300 nonfarm jobs and 3,700 private-sector jobs.
The nation’s unemployment rate was 8.3 percent in July, up from 8.2 percent in June, but down from 9.1 percent in July 2011.
Contact DeLore at tdelore@tmvbj.com