Shrinking of Jobs continue in Albany Job Market!
The erosion of jobs in the Albany area continued in July as overall employment declined by 10,500, or 2.3 percent compared to last year, the state Department of Labour stated.
Private-sector job shed for the region was a bit lower — 9,400, or 2.7 percent — in the year-over-year duration.
The region’s unemployment rate was 7.1 percent in July, up from 5 percent as compared to last year. The area’s unemployment rate in June was 7.3 percent.
Buffalo and Rochester also continued to cut jobs. Buffalo shed 11.800 private sector jobs and Rochester shed 10,300 private-sector jobs in July.
After seasonal adjustment, New York state’s private-sector job count raised by 14,000, or 0.2 percent, to 7.09 million in July — the state’s first monthly raise since August 2008. Labour department analysts suggested that the increase was partially due to construction jobs created through the federal stimulus plan.The state’s unemployment rate went down from 8.7 percent in June to 8.6 percent in July 2009, the report revealed.
Moreover, after approaching its highest mark in 2009, the New York Employee Confidence Index fell by 1.1 points to 46.7 in July, according to the latest Spherion Employment Report.
The survey, independent of the state labour report, revealed the following through comprehensive finding:
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75 percent of workers surveyed assume that there are fewer jobs available, a raise of 11 percentage points from June;
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The number of workers optimistic about their ability to find a new job has raised to 40 percent, a 7-percentage-point upswing from the last month;
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Lesser workers (14 percent) feel that it is likely that they will be laid off from their job, a decrease of 6 percentage points from June.
The monthly survey of New York workers is conducted by Rochester-based Harris Interactive on behalf of Spherion Corp.
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