Syracuse, N.Y. -- New York’s unemployment rate fell to 12.5% in August, from 15.9% in July, as the state gained private-sector jobs for the fourth straight month.
The number of private-sector jobs increased during August by 96,300, or 1.4%, to 7,198,600, according to preliminary figures released Thursday by the New York State Department of Labor.
New York’s private sector job count outpaced the nation’s 0.9% private sector job growth for the third month in a row, the department said.
New York State’s seasonally adjusted unemployment rate of 12.5% in August 2020 was still much higher than it was in August of 2019, when it stood at 3.9%. It also was higher than the national rate, which fell from 10.2% in July to 8.4% in August.
New York City was hit the hardest by the coronavirus pandemic, and it shows in its unemployment rate. The city’s rate was 16% in August, down fro 19.9% in July. In areas of the state outside of the city, the unemployment rate was an average of 9.9% in August, down from 13.1% in July.
The state had 1.1 million, or 13.2%, fewer private-sector jobs in August this year compared with the same month last year, reflecting the effects of the pandemic.
The Syracuse area gained 1,400 private sector jobs in August, a 0.6% gain from July. That was still 36,100, or 13.6%, fewer private sector jobs compared with August of 2019.
Unemployment rates for metropolitan areas and counties will be released on Tuesday.
The number of private sector jobs is based on a payroll survey of 18,000 New York businesses conducted by the U.S. Department of Labor’s Bureau of Labor Statistics. Monthly payroll employment estimates are preliminary and subject to revision as more complete data become available the following month.
The BLS calculates the state’s unemployment rate based partly on the results of a monthly survey of 3,100 households.
Rick Moriarty covers business news and consumer issues. Got a tip, comment or story idea? Contact him anytime: Email | Twitter | Facebook | 315-470-3148
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