NEW YORK – According to preliminary seasonally adjusted figures released today by the New York State Department of Labor, the number of private sector jobs in New York State increased over the month by 19,100, or 0.2%, to 8,259,700 in March 2023. The number of private sector jobs in the U.S. increased by 0.1% in March 2023.
New York State’s private sector jobs (not seasonally adjusted) increased by 250,200, or 3.2%, over the year in March 2023, which exceeded the 2.8% increase in the number of private sector jobs in the U.S.
New York State’s seasonally adjusted unemployment rate decreased from 4.2% in February to 4.1% in March 2023. At the same time, New York State’s labor force (seasonally adjusted) increased by 13,400. As a result, the labor force participation rate increased from 60.6% to 60.7% in March 2023.
The number of private sector jobs in New York State is based on a payroll survey of New York businesses conducted by the U.S. Department of Labor’s Bureau of Labor Statistics (BLS). Monthly payroll employment estimates are preliminary and subject to revision as more complete data become available the following month. The BLS calculates New York State’s unemployment rate based partly upon the results of the monthly Current Population Survey (CPS) of approximately 3,100 households in the State.
Note: Seasonally adjusted data provide the most valid month-to-month comparison. Non-seasonally adjusted data are valuable in year-to-year comparisons of the same month – for example, March 2022 versus March 2023.
Statewide Industry Employment
March 2023 – Seasonally Adjusted
- On a net basis, the total number of nonfarm jobs in the state increased by 18,100 over the month, while private sector jobs rose by 19,100 in March 2023.
- At the same time, the total number of nonfarm jobs in the nation increased by 236,000, while private sector jobs increased by 189,000.
NYS Private Sector Job Growth Exceeded Nation’s
Over-the-Month % Change in Total Nonfarm & Private Sector Jobs, February – March 2023
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Total Nonfarm and Private Sector Jobs Increased in March 2023
Total Nonfarm and Private Sector Jobs (in 1000s), January 1990 – March 2023
Statewide Unemployment
March 2023 – Seasonally Adjusted
- In March 2023, the statewide unemployment decreased from 4.2% to 4.1%.
- New York City’s unemployment rate held constant at 5.4%. Outside of New York City, the unemployment rate decreased from 3.2% to 3.1%.
- The number of unemployed New Yorkers decreased over the month by 9,700, from 401,300 in February to 391,600 in March 2023.
NYS Unemployment Rate Decreased Over the Month
Labor Force Statistics, March 2022, February– March 2023
The Labor Force Increased and Number of Unemployed Fell in March
Total Labor Force & Number of Unemployed, January 2009 – March 2023
Unemployment Rate Decreased in NYS and US
Unemployment Rate, NYS & US, January 2009 – March 2023
Unemployment Rate Held Constant in NYC and Decreased in Balance of State
Unemployment Rate, NYC & BOS, January 2009 – March 2023
Substate and Industry Employment
March 2023 – Not Seasonally Adjusted
New York State Exceeded Nation in Private Sector Job Growth
Over-the-Year Change in Total Nonfarm & Private Sector Jobs, March 2022 – March 2023
Note: The sum of sub-state area job estimates will usually differ from the New York State total. This is because the State total is calculated separately from the sub-state areas and is estimated based on an independent sample.
The Number of Leisure & Hospitality Jobs Increased by 8.6% Over the Year
Over-the-Year Change in Jobs by Major Industry Sector, March 2022 – March 2023
*Government includes public education and public health services.
Note: The responsibility for the production of monthly estimates of state and metro area nonfarm employment by industry moved from the NYS Department of Labor’s Division of Research and Statistics to the U.S. Bureau of Labor Statistics (BLS), starting with the March 2011 estimates. More detailed information on the change is available on the BLS web site.
Many economic data series have a seasonal pattern, which means they tend to occur at the same time each year (e.g., retail jobs usually increase in December). Seasonal adjustment is the process of removing seasonal effects from a data series. This is done to simplify the data so that they may be more easily interpreted and help to reveal true underlying trends. Seasonal adjustment permits comparisons of data from one month to data from any other month.
In New York State, payroll jobs data by industry come from a monthly survey of business establishments conducted by the U.S. Bureau of Labor Statistics. Data are preliminary and subject to revision. Jobs data by industry do not include agricultural workers, the self-employed, unpaid family workers, or domestic workers in private households.
Labor force statistics, including the unemployment rate, for New York and every other state are based on statistical regression models specified by the U. S. Bureau of Labor Statistics. The state’s unemployment rate is based partly upon the results of the Current Population Survey, which contacts approximately 3,100 households in New York each month.
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