October 2024 | Released November 19, 2024
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United States Employment Snapshot
In October, among the 50 states and the District of Columbia unemployment fell in 8, rose in 22, and remained unchanged in 21.
The highest unemployment rate was 5.7 percent in District of Columbia and Nevada, and the lowest was 1.9 percent in South Dakota. Nationally, the unemployment rate remained unchanged in October.
In October, payroll jobs rose in 21 states and fell in 30. The largest payroll job percent increase was 0.4 percent in Idaho. The largest payroll job percent decline was 1 percent in Washington.
New York Employment Snapshot
In October, New York lost 10,900 net payroll jobs and the unemployment rate remained unchanged at 4.4 percent. In the prior month, New York lost 1,300 net payroll jobs.
Over the past 12 months, New York added 133,600 net payroll jobs and the unemployment rate fell by 0.2 percentage points from 4.6 percent.
Nationally, nonfarm payrolls rose by 12,000 in October, or 0 percent. New York is tied for 23rd in the nation for percentage gain in nonfarm payroll employment over the past 12 months.
In October, New York’s private sector lost 800 net private payroll jobs, and over the past 12 months it added 114,700 private payroll jobs. In the prior month, New York lost 3,400 net private payroll jobs.
In October, employment in New York fell by 2,310, and over the past 12 months it fell by 28,742.
New York’s labor force participation rate remained steady at 61.2 percent in October and ranks 37th in the nation. In the past 12 months, the labor force participation rate has fallen by 0.2 percentage points.
New York Payroll Employment
New York lost 10,900 net payroll jobs, or -0.1 percent, on a seasonally adjusted basis during October. In the prior month, New York lost 1,300 jobs. New York nonfarm payroll employment has increased in 7 of the past 12 months.
Nationally, nonfarm payrolls rose by 12,000 in October, or 0 percent. New York is tied for 23rd in the nation for percentage gain in nonfarm payroll employment over the past 12 months.
New York lost 800 private sector jobs, or 0 percent. on a seasonally adjusted basis during October. In the prior month, New York lost 3,400 jobs. New York private sector payroll employment has increased in 9 of the past 12 months.
Nationally, private sector payroll jobs fell by 28,000 jobs in October, or 0 percent. New York is tied for 22nd in the nation for percentage gain in private sector payroll employment over the past 12 months.
The best performing sectors on a seasonally adjusted basis during October were Education and Health Services (6,500) and Leisure and Hospitality (2,200).
The poorest performing sectors during the month were Other Services (-3,600) and Government (-10,100).
The best performing sectors during the last 12 months were Education and Health Services (126,800) and Government (18,900).
The poorest performing sectors during the last 12 months were Information (-10,000) and Trade, Transportation, and Utilities (-11,000).
New York Labor Force
The labor force participation rate is the percentage of the civilian noninstitutionalized population age 16 and older who are employed or actively looking for work.
The labor force participation rate in New York remained unchanged at 61.2 percent in October.
New York ranks 37th in the nation.
The 10-year high for the labor force participation rate in New York was 61.5 percent in December 2023, and the 10-year low was 56.1 percent in April 2020.
The national labor force participation rate fell by 0.1 percentage points to 62.6 percent in October.