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 increased over the month by 11,900, or 0.1%, to 8,409,100 in November. The number of private sector jobs in the U.S. increased by 0.1% in November 2024 as well.
New York State’s private sector jobs (not seasonally adjusted) increased by 123,000, or 1.5%, over the year in November 2024, which was greater than the 1.3% 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 November 2024. At the same time, New York State’s labor force (seasonally adjusted) decreased by 5,100. The statewide labor force participation rate held constant at 61.2% in November 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.
The change in total nonfarm payroll employment for October 2024 was revised up by 12,900, from -10,900 to +2,000. At the same time, the change in total private employment was revised up by 6,000, from -800 to +5,200. Monthly revisions result from additional reports received from businesses and government agencies since the last published estimates and from the recalculation of seasonal factors.
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