The Long Island unemployment rate figures for seasonally unadjusted unemployment tumbled to 5.1 percent in August, plunging 1 percent from a year ago and tying the lowest unemployment rate for the region in that month since 2008.
Nassau County’s rate decreased by 0.9 percentage points to 4.9 percent, while Suffolk County’s rate decreased by 1.0 percentage point to 5.3 percent.
New York State’s seasonally unadjusted rate was 6.1 percent, down from 7.5 percent, while the national rate fell from 7.3 percent to 6.3 percent.
The number of private sector jobs on Long Island rose 2.1 percent year-over-year to 1.12 million as of August – a new high since 1990 when this data was first compiled.
Long Island Unemployment Numbers Near Record Lows for August
The Long Island unemployment numbers continue to see record levels of new jobs every month. The job growth is pretty broad-based. Construction continues to grow at a strong rate. Healthcare’s another big gainer, as well as some growth in professional and business services.
But even if the basic numbers were good, some said that they only tell part of the story for the local economy, where lower wage positions have driven at least some of the growth.
The Long Island unemployment rate and the labor market have been improving gradually for a long time,” according to John Rizzo, chief economist at the Long Island Association, based in Melville. “But there’s still slack in the labor market.”
Rizzo said underemployment and sluggish wage growth remain issues due to a large pool of unemployed people. With the high levels of unemployment, many people took jobs that didn’t use their full potential.
The Long Island unemployment rate continues to recover from the recession in 2008. And we’ve seen some real strength in the construction sector.
Southampton Town and Huntington Town had the lowest rates in Suffolk at 4.3 percent, while Lindenhurst had the highest, at 6.1 percent.
Rockville Centre Village had the lowest unemployment rate in Nassau at 4.1 percent, while Hempstead Village had the highest, at 6.5 percent.
New York City’s rate was 6.9 percent with roughly 3.8 million employed and 283,800 unemployed, down from 8.8 percent a year ago.
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