The Bureau of Labor Statistics released a summary of employment trends across the nation on November 23, 2010. This regional and state report summarizing employment and unemployment rates in October 2010 shows very little change when compared with earlier reports. Here we look at how the State of New York faired when compared to earlier figures and other states.
Nonfarm payroll employment- The BLS summary indicates that nonfarm payroll employment increased in 41 states and the District of Columbia. With Texas taking the lead at +47,900, New York comes in second for the largest over-the-month increase in employment at +40,600 (from 8,479,000 in September 2010 to 8,519,600 in October 2010).
Regional unemployment rate- Taking into consideration seasonal adjustments, the Northeast registered significant changes from the same period last year (-0.5).
State unemployment- Again, taking into consideration seasonal adjustments, New York registered a state unemployment rate of 8.3 which is lower than the national unemployment rate of 9.6. The New York unemployment rate of 8.3 for October of 2010 is down from the 2009 October unemployment rate of 8.9.
To better understand these figures, the BLS considers an employed person as "those who did any work at all for pay or profit in the reference week (the week including the 12th of the month) or worked 15 hours or more without pay in a family business or farm, plus those who were not working who had a job from which they were temporarily absent, whether or not paid, for such reasons as labor-management dispute, illness, or vacation".
Unemployment rates are determined by the number of individuals not considered employed out of the entire labor force (unemployed and employed persons).
Unemployed persons are "those who were not employed during the reference week (based on the definition above), had actively looked for a job sometime in the 4-week period ending with the reference week, and were currently available for work; persons on layoff expecting recall need not be looking for work to be counted as unemployed".
