ALBANY – New York State’s employment rate fell in the month of October, according to a report by the State Labor Department.
The report said that the state’s jobless rate fell by 0.2% in October and reached 4.0%, matching its lowest level since May 1988.
Additionally, the number of private sector jobs rose by more than 22,000, setting a new all-time high for jobs.
The state’s private sector job count is based on a payroll survey of 18,000 New York employers conducted by the U.S. Department of Labor’s Bureau of Labor Statistics.
Monthly payroll employment estimates are preliminary and subject to revision as more data become available the following month.
The federal government calculates New York state’s unemployment rate based partly upon the results of the Current Population Survey, which contacts approximately 3,100 households in New York State each month.
