JOBS ARE ON THE RISE

An excellent article in Westchester County Business Journal on March 17, 2014 by John Golden compares local job market in Putnam, Rockland & Westchester Counties labor market to last year. The labor market in this area grew by 4700 jobs, 1% increase from January, 2013.

The top job area growth was in white collar service section which filled 3,700 more jobs than January, 2013, a 5.2% increase. As a result of this increase, Westchester County unemployment rate dropped to 6% from 7.7% in 2013. The Labor Department reported 28,000 Westchester residents were out of work in January, 2014 compared to 36,350 people in January, 2013. Unemployment in the Putnam-Rockland-Westchester Counties labor market went down to 5.8% in January, 2014, down from 7.5% a year ago. The three county areas had the second lowest January unemployment rate among New York’s 10 metropolitan areas.

The Labor Department’s employment figures for January, 2014 shows the three counties added 3200 nonfarm jobs. The Hudson Valley area has a 6.3% unemployment rate in January, 2014. This was the second lowest rate among the state’s labor market regions. Long Island had the lowest unemployment rate at 5.9%.

In Westchester, Putnam & Rockland Counties employers in education and health services added 4000 more jobs in January, 2014 then January, 2013, a 3.4% increase. Jobs in Health Care and Social Assistance grew by 3600 jobs for a one year period, a 4% increase. Ambulatory Health Service workers in the same area added 1300 jobs, a 3.9% increase. This hiring in the Education and Health Services workers in January, 2014 out placed statewide gains in these fields. The entire New York State in these areas added 36,500 jobs, a 2.1% increase.

As expected, local government employment in the area declined 2400 jobs from December, 2013 to January, 2014, a 3.4% drop. In the tri-county, area employed 1300 fewer workers then a year ago, a 1.9% decline. The article also points out that the 3.9 billion Tappan Zee Bridge project expected impact on construction employment. This has not yet been seen in the State Labor Department statistics.