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What you need to know for 01/19/2018

State jobless figures decline

State jobless figures decline

The Capital Region saw a net gain of 3,900 jobs in June, a 0.9 percent increase from May, according

The Capital Region saw a net gain of 3,900 jobs in June, a 0.9 percent increase from May, according to preliminary figures released Thursday by the state Department of Labor.

Excluding government jobs, the region gained a net 3,600 jobs last month.

New York state lost a net 11,400 jobs in both the public and private sectors from May to June. However, there were 8,500 fewer unemployed residents in June compared to one month earlier, bringing the unemployment rate down from 7.6 percent to 7.5 percent, for a total of 720,900 unemployed residents. It’s the lowest unemployment rate in the state since February 2009.

“New York state’s unemployment rate continued on its recent downward trend in June 2013 … its lowest level in more than four years,” said Bohdan Wynnyk, deputy director of the state Labor Department’s Division of Research and Statistics. “Moreover, the state’s rate is now below the nation’s rate for the first time since December 2011.”

The national unemployment rate remained flat in June at 7.6 percent, even as the U.S. gained 195,000 new jobs from May to June.

The Capital Region’s unemployment figures for June have yet to be released, but preliminary figures break down employment for May and June. The Albany-Schenectady-Troy metropolitan area had 452,200 jobs in June, up 0.6 percent from 449,600 jobs a month earlier and 0.9 percent from one year earlier.

The number of Americans applying for unemployment benefits fell 24,000 last week to a seasonally adjusted 334,000, a sign that steady job gains should continue.

The drop left unemployment benefit applications at the lowest level in 10 weeks, the Labor Department said Thursday. Some of the decline may have been caused by seasonal factors.

Still, the broader trend has been favorable. The four-week average, which smooths out fluctuations, fell 5,250 to 351,000.

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