April 24, 2013
By Labor Market Information Services
OVERVIEW
New York City's seasonally adjusted unemployment rate decreased from February to March 2013 from 9.1% to 8.9%. This is also lower than the City's unemployment rate of 9.4% one year ago.
New York City's unemployment rate this month is higher than the state's (8.2) and the nation's (7.6). New York City's unemployment rate has been higher than the nation's for 19 months.
1-YEAR CHANGES
New York City's gained 57,900 private sector jobs since March 2012. The City's growth rate this year (+1.8%) was stronger than the state's (1.3%), but weaker than the nation's (+1.9%).
Over the past year, the sectors with the most job growth were health care and social assistance (+19,500), concentrated in ambulatory health care services; administrative and support and waste management (+15,100), concentrated in employment services; and professional, scientific, and technical services (+9,600), concentrated in computer systems design and related services.
The largest job losses were in finance and insurance (-4,300), concentrated in securities and commodity contracts; government (-3,700), concentrated in local government; and management of companies (-1,900).
THIS MONTH'S MAJOR TRENDS
The City gained 30,400 private sector jobs this month, about 12,400 jobs more than average for this time of year.
The greatest job gains in the past month were in educational services (+6,600), concentrated in colleges, universities, and professional schools; health care and social assistance (+5,800), concentrated in individual and family services; and information (+4,800), concentrated in motion picture and sound recording.
The worst job losses in the past month were in finance and insurance (-500), concentrated in credit intermediation and related activities; real estate and rental and leasing (-500), concentrated in lessors of real estate; and professional, scientific, and technical services (-400), concentrated in advertising and related services.
