According to WSJ, the NYC economy added more jobs in January than in any month in 23 years.
Some 31,200 jobs were added in the month, according to a seasonally adjusted analysis of new state labour Department figures.
“It is an understatement to say that these gains exceeded all expectations,” said Barbara Byrne Denham, chief economist with the real-estate services firm Eastern Consolidated, who conducted the analysis.
Here’s the press release from the Department of labour.
In January 2012, New York State’s private sector job count increased by 45,500, or 0.2%. From the beginning of the state’s economic recovery in November 2009 through January 2012, New York has recouped 90%, or 290,800, of the private sector jobs lost during the state’s recession in 2008-09.
Note: When comparing different months, seasonally adjusted data provide the most valid comparison; for example, December 2011 versus January 2012. Non-seasonally adjusted data are valuable in year-to-year comparisons of the same month; for example, January 2011 versus January 2012.
1) Unemployment rates (seasonally adjusted):
New York State’s unemployment rate increased from 8.2% in December 2011 to 8.3% in January 2012. Over the same time period, the U.S. unemployment rate dropped from 8.5% in December 2011 to 8.3% in January 2012.
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