NY Unemployment Falls to Lowest Level in Four Years
Some encouraging numbers are out concerning New York State's unemployment rate. Between April and May 2013, New York state's unemployment rate fell from 7.8 percent to 7.6 percent, its lowest level since February 2009.
Kevin Jack is the statewide labor market analyst with the New York State Department of Labor. He says the bigger story is that the job count keeps growing. Jack says that in the last few months, the decline in the unemployment rate has been steep. But the optimism over the falling rate has been tempered in some corners of the state. IBM has announced massive cuts in its workforce; the downsizing affects employees in Dutchess and Westchester counties.
Dutchess County Executive Marc Molinaro concedes the Hudson Valley has taken a big economic hit. Molinaro is encouraged by state initiatives designed to boost the job market and attract new business.
Across the Capital Region, Dan Morn with Next-Act of Colonie reports that job postings continue to hold steady after strong increases, although the market on a national basis indicated a dramatic, unexpected 15 percent drop.
Labor department statistics show private-sector jobs grew the most on Long Island at 2.7 percent, and in the Kingston and Glens Falls areas at 2.6 percent and 2.5 percent, respectively.
View the labor department report HERE.