long island’s economy & labor market: a brief overview presented by: mark j. grossman...
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Long Island’s
Economy & Labor Market:
A Brief Overview
Presented by:
Mark J. Grossman
Commissioner’s Long Island Regional Representative
Labor Market Information prepared by:
Michael Crowell
Senior Economist
Peak in current downturn: 8.3% (Feb 2010) Mar ‘11:
7.1%
Peak in 1992: 8.3%
Mark Grossman begins job at the NYS Department of Labor
Long Island Region Labor Market BriefingMay 2011
May2011
April2011
May2010
Labor Force 1,455,800 1,449,400 1,472,200Unemployment 98,100 95,700 104,600Local Unemployment Rate 6.7% 6.6% 7.1%NY State Unemployment Rate 7.8% 7.6% 8.3%U.S. Unemployment Rate 8.7% 8.7% 9.3%
Note: Seasonally adjusted data not available at the local level. State and U.S. rates shownare also not seasonally adjusted for an accurate comparison.
Net Change % Change
Private Sector Jobs +3,800 +0.4% 1,026,600Total Nonfarm Jobs
(Private Sector + Government)
Change in Jobs, May 2010 to May 2011
Prepared by the New York State Department of Labor, Division of Research and Statistics
Long Island Region
1,235,000
May2011
-0.4%-4,800
Over the Past Year:
The Long Is land Region is comprised of Nassau and Suffolk counties.
-8,600
-1,800
-900
-700
-400
+100
+700
+1,300
+2,500
+3,000
-10,
000
-6,0
00
-2,0
00
2,00
0
Government
Manufacturing
Information
Natural Resources, Mining and Construction
Financial Activities
Leisure and Hospitality
Other Services
Professional and Business Services
Trade, Transportation, and Utilities
Education and Health Services
Trade, Transportation,
and Utilities21%
Education and Health Services
19%
Government17%
Professional and Business
Services12%
Leisure and Hospitality
8%
Manufacturing6%
Financial Activities
6%
Natural Resources, Mining and
Construction5%
Other Services4%
Information2%
Total Nonfarm Jobs = 1,235,000
Growing Industries on Long Island, 12 Months Ending May 2011
Hospitals + 1,700
Food Services and Drinking Places + 1,300
Amusement, Gambling, and Recreation + 1,200
Nursing and Residential Care Facilities + 800
Social Assistance + 800
Ambulatory Health Care Services + 600
Credit Intermediation & Related Activities + 500
Merchant Wholesalers, Durable Goods + 400
Department Stores + 400
Specialty Trade Contractors + 200
Merchant Wholesalers, Nondurable Gds + 200
Real Estate + 200
Food and Beverage Stores + 100
Broadcasting (except Internet) + 100
http://labor.ny.gov/stats/lon
www.labor.ny.gov
www.labor.ny.gov
www.labor.ny.gov
www.labor.ny.gov
Long Island’s
Economy & Labor Market:
A Brief Overview
Presented by:
Mark J. Grossman
Commissioner’s Long Island Regional Representative
Prepared by:
Michael Crowell
Senior Economist