Unemployment in Westchester County down to 6%. New Jobs creation sluggish

WPCNR HEART AND PULSE. From the New York State Department of Labor. November 29, 2013:
The October  2013 unemployment rate for the Hudson Valley Region is 6.3 percent. The Westchester County unemployment rate is 6%.
The regional unemployment  is down from 6.5 percent in September 2013 data and down from 7.3 percent in October 2012.  In October 2013, there were 70,500 unemployed in the region, down from 72,500 in September 2013 and also down from 82,100 in October 2012.
For the 12-month period ending in October 2013, private sector employment in the Hudson Valley Region was relatively unchanged (increased by 0.04 percent or 300 jobs). Employment gains were recorded in the following industries: professional and business services (+2,200), other services (+900), and trade, transportation and utilities (+700).
Meanwhile, job losses were most apparent in manufacturing (-1,600), followed by leisure and hospitality (-800), and information and educational and health services – both down 600, respectively.
The government sector shed 3,200 jobs over the year.
In October 2013, the regional job growth came in weaker than expected as evidenced by the flat over the year growth in the private sector. By comparison, through the first 9 months of the year, private sector employment in the region was growing on average by about 1.1 percent. A weaker than expected job count in the Poughkeepsie-Newburgh-Middletown MSA (-1.4 percent or 2,900 jobs) has offset the overall job growth in the region. A disappointing over the year job count in the aforementioned MSA, in educational and health services, which in itself is an anomaly, as well as significant job losses in manufacturing (-700), which in part is due to recent layoffs at IBM, have all contributed to the lack luster job growth reported in October.
Three of the top 10 counties in New York State with the lowest unemployment rates in October 2013 were in the region:
  • Tompkins County 4.8 percent
  • Yates County 5.2 percent
  • Hamilton County 5.3 percent
  • Putnam County 5.5 percent
  • Saratoga County 5.5 percent
  • Ontario County 5.6 percent
  • Nassau County 5.7 percent
  • Rockland County 5.7 percent
  • Columbia County 6.0 percent
  • Seneca County 6.0 percent
  • Westchester County 6.0 percent
 
Among the 7 counties in the region, Putnam County (5.5 percent) had the lowest unemployment rate and Sullivan County (8.1 percent) had the highest unemployment rate.
  • Putnam County 5.5 percent
  • Rockland County 5.7 percent
  • Westchester County 6.0 percent
  • Dutchess County 6.7 percent
  • Orange County 6.9 percent
  • Ulster County 7.2 percent
  • Sullivan County 8.1 percent
Of the 10 Labor Market Regions in New York State, the Hudson Valley Region (6.3 percent) trails only Long Island (5.9 percent), and the Capital Region (6.1 percent) with the lowest unemployment rate in October 2013.

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