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State’s economy adds 17,300 private sector jobs in July

ALBANY - New York State’s private sector job count grew by 17,300, or 0.2 percent, in July 2014, according to preliminary figures released today by the New York State Department of Labor. This latest monthly employment gain raised New York State’s overall private sector job count to 7,603,300, an all-time high. The state’s unemployment rate was unchanged at 6.6% in July 2014, remaining at its lowest level since November 2008.

Since the beginning of Governor Andrew M. Cuomo’s administration, the state’s economy has added 500,700 private sector jobs and experienced employment growth in 38 of the past 43 months. July 2014 marked New York State’s 20th consecutive month of private sector job growth, the state’s longest streak on record since at least 1990.

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 becomes available the following month. The federal government calculates New York’s unemployment rate partly based upon the results of the Current Population Survey, which contacts approximately 3,100 households in New York State each month.

“With 17,300 new jobs added in July 2014, New York State now marks 20 straight months of private sector job growth, the longest streak since at least 1990, as far as records go back. In addition, our state’s jobless rate remained at its lowest level in more than five and a half years,” said Bohdan M. Wynnyk, Deputy Director of the Division of Research and Statistics.