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.

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.