State Labor Department releases preliminary local area unemployment rates

0 147

Get real time updates directly on you device, subscribe now.

The New York State Department of Labor has released preliminary local area unemployment rates for October 2020.

While disclosing this in a statement on Tuesday November 24, 2020, the DOL stated that the rates are calculated using methods prescribed by the U.S. Bureau of Labor Statistics.

“The State’s area unemployment rates rely in part on the results of the Current Population Survey, which contacts approximately 3,100 households in New York State each month,” the statement reads.

It adds that the State’s seasonally adjusted private sector jobs increased over the month by 45,600, or 0.6%, to 7,340,300 in October 2020.

“The number of private sector jobs in New York State is based on a payroll survey of 18,000 New York employers, which is conducted by the U.S. Bureau of Labor Statistics.

“In addition, the State’s seasonally adjusted unemployment rate decreased from 9.7% to 9.6% in October 2020,” the statement says.

The data in the above table are not seasonally adjusted, which means they reflect seasonal influences (e.g., holiday and summer hires).

The most valid comparisons with this type of data are year-to-year comparisons of the same month, for example, October 2019 versus October 2020.

Get real time updates directly on you device, subscribe now.

Leave A Reply

Your email address will not be published.