While jobs in New York increased during August, the state’s unemployment rate also increased.
Private sector employment in New York state increased by 3,000 jobs, or less than .1 percent, to 7,261,200 jobs. However, the state’s unemployment rate increased from 5.2 percent in July to 5.8 percent in August. According to a press release from the New York State Department of Labor, this is the state’s highest unemployment level since June 2004, and the highest monthly increase in unemployment in more than 17 years.
“New York State’s labor market indicators reported mixed signals in August,” Peter A. Neenan, director of the Division of Research and Statistics, said in the release. “Although the state did add 3,000 private sector jobs, the unemployment rate increased from 5.2 percent in July to 5.8 percent in August. This 0.6 percentage point jump represented the largest monthly increase in the state’s rate since January 1991.”