2004-09-09 / Business & Finance

State Continuing Employment Surge: Economist

New employment statistics from the Department of Labor show that New York’s economy continued to strengthen in July 2004 - the 11th consecutive month of job growth in the State. Moreover, the pace of private job creation accelerated in New York City, according to Chief Econo-mist Stephen Kagann.

From July 2003 to July 2004, New York State private payrolls rose 78,700 or 1.1 percent.

Over this period, private employment rose 45,000 or 1.5 percent in New York City, 17,200 or 1.1 percent in the five suburban counties and 16,500 or 0.7 percent Upstate.

New York City has been one of the nation’s biggest regional beneficiaries of the President’s tax cuts, which have helped stimulate the City’s fin-ancial markets, while also improving local employment, Kagann said.

Strong employment growth in the City was found in a wide array of industries: retailing (+2.7 percent) transportation (+3.5 percent), publishing (+3.9 percent), motion pictures (+ 13.8 percent), broadcasting (+6.7 percent), real estate (+2.3 percent), accounting and bookkeeping (+8.4 percent), computer systems (+7.3 percent), management consulting (+2.0 percent), legal services (+2.8 percent), employment services (+11.1 percent), security services (+8.2 percent), building services (+8.8 percent), healthcare (+2.3 percent) and leisure and hospitality (+4.8 percent).

In the suburbs, private employment grew in Westchester (+0.9 percent), Rockland (+2.1 percent) and Putnam (+5.0 percent) and Long Island (+ 1.1 percent).

Among the upstate regions gains were recorded in Newburgh (+2.7 percent), Dutchess (+1.8 Percent) Albany (+1.5 percent), Jamestown (+1.5 percent), the North Country (+1.4 percent) and Syracuse (+0.8 percent), Glens Falls (+0.2 percent) and the 17 mostly rural non- metropolitan counties outside the North Country (+1.2 percent). North Coun-try (+1.2 percent).

Private employment in Utica-Rome was level, but this merely reflects the required reclassification of Indian-owned businesses from the private sector to the government sector. Private employment declined in Buffalo (-0.6 percent) and Rochester (-0.5 percent).

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