WPCNR 9 TO 5. From The New York State Labor Department, White Plains. With WPCNR Commentary UPDATED October 28, 2021 1:30 PM EDT:
On May 27, 2020, WPCNR reported in the Number of persons counted as no longer in the labor force in April 2020, when Governor Cuomo started to reopen the state after the first Covid wave was tamed, was 1,096,800
This month, 16 months later it stands at 1,105,800 an increase of point 8 of a percent, indicating more persons are still not seeking work
The Labor Department yesterday reported the September 2021 unemployment rate for the Hudson Valley Region is 4.3 percent. That is down from 5.1 percent in August 2021 and down from 6.7 percent in September 2020.
In September 2021, there were 47,400 unemployed in the region, down from 57,400 in August 2021 and down from 74,700 in September 2020. WPCNR observes that means 27,300 have returned to work since the height of the pandemic in 2020.
Year-over-year in September 2021, labor force decreased by 10,500 or 0.9 percent, to 1,105,800.
WPCNR observes the people no longer working counting as left the workforce are staying at home, fear of Covid, workplaces closing, according to the Department of Labor. Ten thousand of them make up 10,000 of the total counted as now no longer unemployed.
Put another way, it is the persons no longer in the workforce statistic does double duty in putting out a positive unemployment reduction. People think 10,000 people went back to work and took jobs. But meanwhile they are also counted as not being in the workforce. It is a convenience of statistics–that 10,000 of the 10, 500 counted as not in the workforce ) is within 500 of the decline in unemployment, 10,000, less people unemployed than last year in September.
The 47,400 persons unemployed, 27,300 less than unemployed in September 2020, 74,700 (the height of the covid epidemic). But the decline in unemployment is made up of 10,500 counted as leaving the workforce this year plus those who left the workforce in 2020. This would stand to reason the Hudson Valley economy may be getting more employed but it is not a robust return to commerce the way it used to be.
The Number of persons counted as no longer in the labor force in April 2020, when Governor Cuomo started to reopen the state, was 1,096,800. This month, sixteen months later it stands at 1,105,800. Are these phantoms? How do they survive? You assume persons got jobs to lower the unemployment rate. But maybe they did not. Perhaps some did, the lucky 500.
The Hudson Valley Region’s September 2021 unemployment rate (4.3 percent) is tied with the Finger Lakes region for fifth lowest rate among the 10 labor market regions in New York State.
- Capital Region 3.9 percent
- Long Island 4.2 percent
- North Country 4.2 percent
- Southern Tier 4.2 percent
- Finger Lakes 4.3 percent
- Hudson Valley 4.3 percent
- Central New York 4.4 percent
- Mohawk Valley 4.5 percent
- Western New York 4.7 percent
- New York City 8.9 percent
In September 2021, the lowest unemployment rate within the region (3.9 percent) was recorded in Putnam County.
- Putnam County 3.9 percent
- Rockland County 4.0 percent
- Dutchess County 4.2 percent
- Ulster County 4.2 percent
- Orange County 4.3 percent
- Sullivan County 4.4 percent
- Westchester County 4.4 percent