According to preliminary seasonally adjusted figures released Friday by the New York State Department of Labor, the number of private sector jobs in New York State increased over the month by 5,800, or 0.1%, to 8,261,500 in December 2023. The number of private sector jobs in the U.S. also increased by 0.1% in December 2023.
New York State’s private sector jobs (not seasonally adjusted) increased by 49,200, or 0.6%, over the year in December 2023, which was less than the 1.6% increase in the number of private sector jobs in the U.S.
New York State’s seasonally adjusted unemployment rate increased from 4.3% in November to 4.5% in December 2023. At the same time, New York State’s labor force (seasonally adjusted) decreased by 7,500. As a result, the statewide labor force participation rate decreased from 61.7% in November to 61.6% in December 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.
