New York State’s private sector job count rose and the jobless rate dropped, news that cheered economists—and, one assumes, the folks who got work.
Here are a few details.
- New York's private sector job force was 7,529,200 in January 2014—an all-time high.
- At the same time, the jobless rate dropped to 6.8 percent statewide. That's much lower than January 2013: 8.1 percent.
- Putnam, Rockland and Westchester counties did not do as well as the state overall. And New York did not keep pace with the United States overall. The U.S. private-sector job force grew by 2.1 percent. The New York state private-sector job force grew by 1.7 percent. The job force in the lower Hudson Valley grew by 1 percent.
- Construction, government and manufacturing sectors continued to shed jobs.
- The most growth was in educational and health services.
“The state’s economy added 5,400 private sector jobs, reaching another all-time high in January,” said Bohdan M. Wynnyk, Deputy Director of the Division of Research and Statistics. “This ... has shown the economy to be even stronger than we thought.”
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