As US Economy Booms, NY Keeps Adding Private-Sector Jobs

NEW YORK — As the United States continues to recover briskly from the coronavirus pandemic, New York's private sector continues to add jobs, according to the latest data from the state Labor Department.

According to Bloomberg.com, "Growth in the U.S. economy accelerated last quarter, while earnings for S&P 500 firms posted double-digit expansions for a fourth straight time. Going by analyst forecasts, corporate profits will increase at about 10% a year through at least 2024. Meanwhile, gross domestic product is expected to rise more than 2% in each of the next six quarters."

In the past 12 months, the number of private-sector jobs in the country increased by 5.2 percent. New York added jobs faster than that, as the number of private-sector jobs increased 5.9 percent over March 2021.

In downstate metro areas outside of New York City, job growth was strong in the past 12 months.

• Kingston: 7.9 percent
• Nassau-Suffolk: 3.9 percent
• Orange-Rockland-Westchester: 3.5 percent
• Dutchess-Putnam: 2.6 percent

Just in March 2022, New York State continued to show strong economic recovery as the unemployment rate decreased and the number of people unemployed decreased while the labor force increased and its participation rate increased.

Just one in 10 Americans listed the economy as a top concern in March, while two in 10 said inflation was the nation's biggest problem, according to Gallup polling.