NEW YORK – According to 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 21,200, or 0.3%, to 8,233,700 in February 2023. The number of private sector jobs in the U.S. increased by 0.2% in February 2023.
New York State’s private sector jobs (not seasonally adjusted) increased by 244,800, or 3.1%, over the year in February 2023, which matched the 3.1% increase in the number of private sector jobs in the U.S.
New York State’s seasonally adjusted unemployment rate held constant at 4.2% in February 2023. At the same time, New York State’s labor force (seasonally adjusted) increased by 14,500. As a result, the labor force participation rate increased from 60.5% to 60.6% in February 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 are used to 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, February 2022 versus February 2023.
Statewide Industry Employment
February 2023 – Seasonally Adjusted
- On a net basis, the total number of nonfarm jobs in the state increased by 21,700 over the month, while private sector jobs rose by 21,200 in February 2023.
- At the same time, the total number of nonfarm jobs in the nation increased by 311,000, while private sector jobs increased by 265,000.
NYS Private Sector Job Growth Exceeded Nation’s
Over-the-Month % Change in Total Nonfarm & Private Sector Jobs, January – February 2023
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Total Nonfarm and Private Sector Jobs Increased in February 2023
Total Nonfarm and Private Sector Jobs (in 1000s), January 1990 – February 2023
Statewide Unemployment
February 2023 – Seasonally Adjusted
- In February 2023, the statewide unemployment rate held steady at 4.2%.
- New York City’s unemployment rate increased from 5.3% to 5.4%. Outside of New York City, the unemployment rate decreased from 3.4% to 3.2%.
- The number of unemployed New Yorkers decreased over the month by 1,200, from 402,600 in January to 401,400 in February 2023.
NYS Unemployment Rate Unchanged Over the Month
Labor Force Statistics, February 2022, January – February 2023
The Labor Force Increased and Number of Unemployed Fell in February
Total Labor Force & Number of Unemployed, January 2009 – February 2023
Unemployment Rate Held Steady in NYS and Increased in the US
Unemployment Rate, NYS & US, January 2009 – February 2023
Unemployment Rate Increased in NYC and Decreased in Balance of State
Unemployment Rate, NYC & BOS, January 2009 – February 2023
Substate and Industry Employment
February 2023 – Not Seasonally Adjusted
New York State Matched Nation in Private Sector Job Growth
Over-the-Year Change in Total Nonfarm & Private Sector Jobs, February 2022 – February 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 9.6% Over the Year
Over-the-Year Change in Jobs by Major Industry Sector, February 2022 – February 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.[1]
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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