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What you need to know for 01/17/2017

Capital Region trails only NYC in state job growth

Capital Region trails only NYC in state job growth

The Capital Region added 4,900 private sector jobs from January 2012 to January 2013, according to s

The Capital Region added 4,900 private sector jobs from January 2012 to January 2013, according to state Department of Labor figures out today. When combined with government jobs, though, the region added a net 4,000 jobs for a year-over-year increase of 0.9 percent.

The Albany-Schenectady-Troy metropolitan area was second behind New York City for the most jobs added last month.

Meanwhile, nearly one in every five jobs added across the country in January were created in New York. The state added 29,600 of the nation’s 166,000 new jobs in January, a growth in private sector jobs for the past 17 months in a row. Private sector job growth is determined based on a U.S. Bureau of Labor Statistics payroll survey of 18,000 New York employers.

The Labor Department points out that while the state’s unemployment rate rose from 8.2 percent in December to 8.4 percent in January, this rate was calculated on the results of a much smaller survey of 3,100 households.

“Due to the small sample size, this survey is not comprehensive,” the DOL report said.

Monthly labor data that was revised at the end of 2012 showed that New York’s labor force climbed by 59,000 from 2011 to 2012, as more residents had renewed confidence about finding a job. The state’s annual average unemployment rate also rose, from 8.3 percent in 2011 to 8.5 percent in 2012.

“New York state’s strong economy continues to grow in 2013 and is setting records for consecutive job growth,” said Division of Research and Statistics Deputy Director Bohdan Wynnyk in the release.

Reach Gazette reporter Bethany Bump at 395-3107 or bbump@dailygazette.net.

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