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September 23, 2019Cart

Business

by Westchester County Business Journal
by WCBJ

Lower Hudson Valley added jobs and lowered unemployment in 2018

The Lower Hudson Valley added 3,300 nonfarm jobs in 2018, according to state Department of Labor estimates, but trailed state and national job growth.

Employment in Westchester, Rockland and Orange counties grew by 0.5 percent last year, compared with 1.3 percent statewide and 1.8 percent nationally.

The three-county region’s unemployment rate dropped to 3.3 percent in December, from 4.4 percent the year before. State and national unemployment at the end of 2018 were at 3.8 percent and 3.7 percent.

The region’s civilian labor force grew to 825,800, an addition of 19,800 jobs, and there were 7,800 fewer unemployed people.

Differences between the nonfarm employment and civilian labor force statistics are due to different methodologies.

Nonfarm employment estimates are based on a survey of 18,000 New York employers. Unemployment rates are calculated with a U.S. Bureau of Labor Statistics model and based partly on a survey of 3,100 households.

Using the nonfarm employment estimates, the region’s private sector grew by 2,000 jobs, or 0.3 percent, while the smaller government sector grew by 1,300 jobs, or 1.2 percent.

The largest private-sector gains were in education and health services, up by 4,100 jobs, and professional and business services, up by 1,600.

The greatest private-sector losses were in trade, transportation and utilities, down by 3,000.

The biggest gain in the region’s government sector was local government, up by 1,200 jobs. The federal government registered no change and state government added 100 jobs.

The region’s best local unemployment rates were in Port Chester and Rye, at 2.7 percent, followed by Mamaroneck, Monroe, Ramapo and Spring Valley at 2.8 percent.

The highest local unemployment was in Mount Vernon, at 4.5 percent, followed by Haverstraw at 4.4 percent.