The last time the County had a disappointing job report was in March, 2015. USA Today, Journal News on April 4, 2015 published an article by John Waggoner entitled” March jobs report falls flat”. The Bureau of Labor Statistics reported the US economy created 126,000 new jobs in March, the lowest since December, 2013 and far below estimates of 248,000 new jobs. However, the unemployment rate remained at 5.5%. in this report. The article concludes that the Federal government is unlikely to raise interest rates.
In an article in USA Today Money, Paul Davidson, points out that job seekers should think small. Small business hiring is picking up. Firms with fewer than 50 employees is likely to prop up a labor market. ADP in April stated small businesses added a solid 103,000 jobs in February and 108,000 in March as payroll growth in larger companies slowed. The Labor Department more closely watched employment reports in March of just 126,000 jobs, down from 264,000 in February. The National Federation of Independent Businesses says small businesses added an average of 0.18 workers per firm in March. One of the best readings in the last decade.
In the Westchester Business Journal on April 27, 2015, an article was published by Reece Alvarez keeping track of New York State Department of Labor and reports that in March, 2015, an unemployment rate hit its lowest since August, 2008. In March, the private section in New York State increased by 8,600 or .1%. The jobless rate dropped to 5.7% from 5.8% in February, 2015 and from 6.6% in March, 2014. New York State unemployment rate of 5.7% is slightly above the nation’s rate of 5.5%. Westchester, Rockland & Orange Counties had the second fastest growing private sector job growth (behind Kingston) in the Hudson Valley.