According to preliminary seasonally adjusted figures released Thursday by the New York State Department of Labor, the number of private sector jobs in New York State decreased over the month by 800, or less than 0.1%, to 8,391,200 in October 2024. The number of private sector jobs in the U.S. decreased by less than 0.1% in October 2024 as well.
New York State’s private sector jobs (not seasonally adjusted) increased by 104,300, or 1.3%, over the year in October 2024, which was greater than the 1.2% increase in the number of private sector jobs in the U.S.
New York State’s seasonally adjusted unemployment rate held constant at 4.4% in October 2024. At the same time, New York State’s labor force (seasonally adjusted) decreased by 3,400. The statewide labor force participation rate held constant at 61.2% in October 2024.
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.
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