Disparity in New York Job Markets

Why is it that jobs in the public sector take such a beating when private sector jobs seem to be growing?  In New York, the statistics for March employment show a glaring discrepancy between growing jobs in the private sector and large scale layoffs in the public sector.

New York State’s economy gained 5,000 private sector jobs, or 0.1%, in March 2011 on a seasonally adjusted basis. Since New York’s economic recovery began in November 2009, the state has added 119,500 private sector jobs.

Meanwhile, jobs paid for by the people of New York seem to be drying up.  Over the past year, government lost the most jobs (-34,600) of any sector. Losses were greatest at the local level (-19,500), especially at local school districts (-13,900). Employment losses also occurred at the state (-7,300) and federal (-7,800) levels.

INew York State’s seasonally adjusted unemployment rate was 8.0% in March 2011, down from 8.2% in February. The number of unemployed New York State residents dropped from 786,600 in February to 767,000 in March 2011. Both the state’s unemployment rate and number of unemployed were at their lowest levels since March 2009.

“During the current economic recovery, the state has added 119,500 private sector jobs. In March 2011, both the state’s unemployment rate and number of unemployed were at their lowest levels since March 2009,” said Bohdan Wynnyk, Chief of Labor Statistics, Division of Research and Statistics.