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New York News March 7, 2019 3 mins read

New York State Private Sector Jobs Reach All-Time High

New York News ı By Marivic Cabural Summers

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New York State Capitol Building

The U.S. Department of Labor (DOL) of released its newly revised data showing that the State of New York’s annual private sector jobs reached an all-time high.

According to the DOL, New York had 8,181,000 private sector jobs last year. Its unemployment rate declined to 4.1 percent, the lowest annual rate on record.

The state’s record-breaking private sector jobs and unemployment rate demonstrate that its continued economic growth.  From 2009 to 1018, its economy added more than 1.16 million private sector jobs.

Since the start of Governor Andrew Cuomo’s administration, New York’s economy added 1,138,600 private sector jobs. The state also recorded employment growth in 83 of the past 97 months of his administration.

The DOL’s Bureau of Labor Statistics determined New York’s private sector job count based on a payroll survey of 18,000 employers in the state.  The agency calculates the state’s unemployment rare based partly on results of the Current Population Survey (contacting 3,100 households every month).

Gov. Cuomo promises to continue to drive economic growth statewide

In a statement, Gov. Cuomo said, "These numbers are proof positive of the success of our long-term strategy of boosting economic progress across every corner of the state rather than in just a few regions, as has been the case in decades past. This success is bolstered by the strength of bottom-up, regionally focused economic development and transformative investments in infrastructure and new and emerging industries to support generations of future economic growth.”

He added, "But our work must not and does not end. We will continue to build on our transformative progress to drive growth across the state, create and retain jobs and keep all economic arrows pointed in the right direction."

New York had the chance to add tens of thousands of high-paying jobs through Amazon.com (NASDAQ: AMZN). The e-commerce giant initially decided to build its second headquarters in Long Island City.  The project could also bring more than $27 billion in state and local tax revenues.

However, Amazon abandoned its plan due to the strong opposition of a small group of local politicians. Gov. Cuomo accused the opponents of the project of governmental malpractice.

Gov. Cuomo and dozens of elected officials, union leaders, and community groups are encouraging Amazon to reconsider its decision.

The governor spoke with Amazon executives including its CEO Jeff Bezos multiple times in an attempt to win the e-commerce giant back. Other local officials, union leaders, and community groups published an open letter requesting Bezos to change his mind.

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Marivic Cabural Summers

Marivic has been a freelance writer/journalist for nearly 20 years. She strictly adheres to the ethical standards in journalism. For her, integrity is everything. Readers deserve to know that real story. She previously worked as research analyst and editor at Lombardi Financial and has written for various websites including The Motley Fool, ValueWalk, IcannWiki and was a news writer/radio program producer at Nation Broadcasting Corporation. Marivic holds a BA in Mass Communications.

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