New York's statewide unemployment rate rose to 4.5 percent in March, reflecting the state’s largest drop in private sector jobs since 2009.
According to a report released by the New York State Department of Labor on Tuesday, 43,000 jobs were lost in the private sector in March. A total of 713,000 private sector jobs were lost in the United States.
The full impact of the COVID-19 outbreak on jobs will be better reflected in statistics reported for the month of April, "since the reference week was before the shutdown," Timothy Glass, labor market analyst for the department's New York's Western region, explained.
"Monthly employment and unemployment data lags behind by a month," Glass added.
The state's report underscored Glass' explanation.
“While (March’s) data broadly reflects the impact of the coronavirus pandemic and related public health efforts on the state’s labor market, it is important to note the March reference periods for both surveys occurred before many Coronavirus-related business and school closures were implemented,” the report said. “As a result, many of the Coronavirus-related job losses from March are not fully reflected in these job figures.”
Cattaraugus and Allegany counties each saw a slight increase in “nonfarm jobs” from March 2019 to March 2020, as the number of those jobs rose 0.7 percent in Cattaraugus County and 1.3 percent in Allegany County.
Unemployment data for the month of April will be available on May 27.
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