New York lags rest of the country in job growth

New York lags rest of the country in job growth

  • Steve Bittenbender | The Center Square contributor/June 18th, 2021

(The Center Square) – Jobs data released Thursday shows New York gained private-sector jobs in May but not at the same rate as the rest of the country.

The New York State Department of Labor said the number of jobs grew by 17,500, or 0.2%, last month as there are now nearly 7.5 million jobs in the state.

Nationally, the number of private-sector jobs grew at a 0.4% clip, meaning 492,000 new jobs were created.

New York’s unemployment rate went from 8.2% in April to 7.8% last month. That’s still significantly higher than the U.S. average of 5.8%.

text on black background
Photo by Anna Tarazevich on Pexels.com

In addition, while the state’s unemployment rate went down, so too did its labor participation rate, which accounts for the percentage of working-age individuals – people 16 or older – who are either working or actively seeking a job. It went from 61.4% in April to 60.9% last month.

New York City continues to be the main drag on the statewide numbers. According to the DOL, the city’s unemployment rate was 10.9% for the month. That’s down from 11.4% in April, but outside of the nation’s largest city, the rest of the state reported a 5.5% unemployment rate for May.

DOL data does show that the state is regaining the jobs it lost more than a year ago due to the COVID-19 pandemic. However, the job recovery is happening slower than the COVID-caused freefall.

In May 2020, the state reported a loss of more than 550,000 leisure and hospitality jobs from the previous year. From May 2020 to last month, the number of jobs in that sector grew by more than 255,000.

The next biggest gainer, in terms of job numbers, was trade, transportation and utilities. After losing nearly 359,000 jobs from May 2019 to May 2020, that industry has picked up 204,000 jobs from May 2020 to last month.

More from the Roosevelt Island Daily

  • Roosevelt Island Is Nearly Devoured in MTA Subway Map Remake
    A new Subway Map slowly being introduced by the MTA has Manhattan blowing up like a hippo in a birdcage while Roosevelt Island shrinks to near oblivion. First reported in Gizmodo… The Roosevelt Island Daily News More from the Roosevelt Island Daily davidstone1313 See author's posts
  • A Child Hit In Crosswalk Is Third In Two Months
    The child hit in a crosswalk, yesterday, was the third on Roosevelt Island in two months. Multiple reports say RIOC’s Public Safety Department refused a request for protection during a Halloween party, claiming they were “understaffed.” By David Stone The Roosevelt Island Daily News Child Hit After PSD Refuses A Request for Help Monster Bash,
  • Still Sleeping in the Roosevelt Island Subway. Is there no solution?
    Last month, we posted about the high volume of people finding a place to sleep in the Roosevelt Island subway station. Mid-morning today, there were a pair so out of it, they managed sleeping soundly on those god awful, ribbed benches in the subway. The Roosevelt Island Daily News How is it we can spend
  • Proof that nagging – plus two accidents – gets RIOC off its peg
    RIOC’s been nagged for months about returning mini stop signs in crosswalks. They lower the risks to which pedestrians are regularly exposed. But nothing happened until two people were hit by cars. Better late than never, although it’s shameful it took so much to get some action. The Roosevelt Island Daily News More from the
  • After Ten Years, Hudson-Related’s Shops On Main Finds Its Groove
    Shops on Main launched in 2011 with a boom that bombed. Hudson president David Kramer promised “shock and awe.” It’s too late now for either, but what we have is a big post-pandemic bump into a functioning Main Street Corridor. By David Stone The Roosevelt Island Daily News Shops On Main, October 2021 In past
Share

Written by:

613 Posts

View All Posts
Follow Me :

Leave a Reply

%d bloggers like this: