The number of jobs in New York State increased in July but at a slower pace than in June, and the statewide unemployment rate ticked up. The New York State Department of Labor reported that employment statewide increased by 176,600 (seasonally adjusted) in July following an increase of 274,000 in June. Employment statewide is still 15% below its pre-COVID-19 peak in February. The increase in employment nationwide also slowed in July, though total employment is now about 9% below its pre-COVID-19 peak. The U.S. Bureau of Labor Statistics reported that employment in New York City was up by 56,000 in July following a gain of 101,000 in June. Employment in the city is now roughly 17% below its pre-COVID-19 peak.
Despite the reported increase in jobs, New York State’s unemployment rate rose modestly to 15.9% in July from 15.6% in June. The state’s rate is above the 10.2% unemployment rate nationwide. The rise in the state’s unemployment rate can be partially explained by an increase in the state’s labor force in July of more than 200,000. In New York City, the unemployment rate fell to 19.8% in July from 20.2% in June.
The New York State Department of Labor reported filings of initial claims for Unemployment Insurance in the state totaled 63,178 during the week ending August 15, moderately above the previous week’s filings but down from the July weekly average of roughly 88.000. In New York City, filings of initial claims for Unemployment Insurance totaled 33,591 during the week ending August 15, also above the previous week but down from the July weekly average of roughly 45,000.