Hudson Valley Added More than 22,000 Private Sector Jobs in Last 12 Months
Real Estate In-Depth | December 21, 2021
ALBANY—The New York State Department of Labor reported recently that private sector jobs in the Hudson Valley rose over the year by 22,100 positions, or 3.0%, to 766,400 in November 2021.
Job growth was centered in leisure and hospitality (+13,400), professional and business services (+6,100), trade, transportation and utilities (+2,600), educational and health services (+1,900), manufacturing (+1,400), other services (+1,300) and information (+300). Losses were greatest in natural resources, mining and construction (-3,700) and financial activities (-1,200).
Private sector job growth continued to be broad-based, with seven of nine sectors adding jobs for the 12-months through November 2021, the Department of Labor reported. Job counts in the region’s manufacturing sector have been trending upward, with eight consecutive months of year-over-year gains. Year-over-year in November 2021, the sector grew by 3.4%–a record high for the month. New York City’s non-farm private sector job growth was 4.8% during the November 2020-November 2021 period.
Within the region, Sullivan County’s private employment sector grew the fastest year-over-year, up 4.4%. The second fastest growth was recorded in the Orange-Rockland-Westchester labor market area (+3.7%), followed by the Kingston MSA (+2.5%). The Dutchess-Putnam MSA was the only area that declined over the period—down 0.7%.
According to preliminary figures released by the New York State Department of Labor on Dec. 16, the number of private sector jobs in New York State increased over the month by 24,200, or 0.3%, to 7,614,800 in November 2021. By comparison, the number of private sector jobs in the U.S. increased by 0.2% in November 2021.
New York State’s private sector jobs (not seasonally adjusted) increased by 315,100, or 4.3%, over the year in November 2021. By comparison, the number of private sector jobs in the U.S. increased by 4.6% over the year.
New York State’s seasonally adjusted unemployment rate decreased from 6.9% to 6.6% in November 2021.