Understanding Unemployment Rates NY

The unemployment rate in New York is significantly higher than the national average, with a rate of 4.4% compared to 3.6% nationwide.

New York's unemployment rate is influenced by various factors, including the state's economy and job market.

In 2020, the unemployment rate in New York peaked at 15.2% due to the COVID-19 pandemic, with the leisure and hospitality industry being one of the hardest hit sectors.

The state's unemployment rate has been steadily declining since then, with a current rate of 4.4%.

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The New York State economy is a complex and ever-changing entity, with various indicators and reports to help us understand its trends and patterns. NYS DOL publishes two jobs and labor force reports monthly, providing valuable insights into the state's economic landscape.

The Local Area Unemployment Statistics (LAUS) program offers monthly and annual employment, unemployment, labor force, and unemployment rate data for New York State, labor market regions, metropolitan areas, counties, workforce investment regions, and municipalities of at least 25,000 people.

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Seasonally adjusted data is the best choice when comparing data from month-to-month, while not seasonally adjusted data is better for comparing data from year-to-year. Seasonally adjusted data is only available for New York State, New York City, the Balance of State, and metropolitan areas.

You can retrieve and compare current and historical seasonally and not seasonally adjusted monthly labor force data for different labor market areas using the dashboard provided by the LAUS program. The dashboard allows you to explore the data in multiple ways, including monthly data, annual data, and county rate maps.

Here are the release dates for LAUS data revisions:

The entire set of currently available historical LAUS data are available by downloading the file, laus.zip.

The jobs data in New York State is a treasure trove of information, and I'm excited to share some key facts with you. The Bureau of Labor Statistics (BLS) and New York State work together to provide monthly and annual employment, unemployment, labor force, and unemployment rate data for various geographic areas.

You can get the latest monthly jobs report for New York State, including the statewide and New York City unemployment rates, from the press release highlights. This data is used by a wide variety of customers, including the federal government, state and local governments, and private industry.

The Local Area Unemployment Statistics (LAUS) program provides monthly and annual data for different labor market areas, including counties and municipalities. This data is used for planning and budgetary purposes, as well as to assess local labor market conditions.

Seasonally adjusted data is the best choice when comparing data from month-to-month, but not seasonally adjusted data is better for comparing data from year-to-year. Seasonally adjusted data is only available for New York State, New York City, the Balance of State, and metropolitan areas.

Here's a rough guide to help you understand when to use seasonally adjusted and not seasonally adjusted data:

Note that LAUS data is revised every year as part of a process called benchmarking, which is mandated by the BLS. Revised data will be released and posted on the website according to a specific schedule.

The unemployment rate in New York is currently at 4.00%, which is lower than the long-term average of 6.38%.

New York's unemployment rate measures the percentage of total employees in the state who are part of the labor force but are without a job.

This rate can give a good idea of the health of the economy, and in New York's case, it's been known to reach as high as 10.80% in 1982 following a recessionary period.

The Bureau of Labor Statistics reports that the national unemployment rate for March was around 6%, while New York's rate was still at around 8.8% as of February.

Oswego County, for example, has an unemployment rate that's often slightly higher than the national average, but it's been doing relatively well compared to other areas of the state during the pandemic.

Here are the current unemployment rates for some of the states with the highest rates:

It's worth noting that these numbers may not accurately reflect the employment situation, as many people have left the labor force to care for their children or handle other personal matters.

The Capital Region had an unemployment rate of 12.9 percent in April, which is tied with the Albany-Schenectady CSA.

The Southern Tier had an unemployment rate of 13.9 percent, while Western New York had the highest rate at 18.6 percent.

The Albany-Schenectady CSA encompasses the Glens Falls MSA, which had a 15.7 percent unemployment rate, and the Hudson µSA, with a rate of 10 percent.

The Albany-Schenectady-Troy MSA had an unemployment rate of 12.5 percent, the second lowest in the state.

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