New York State’s seasonally adjusted unemployment rate decreased from 9.2% in October to 8.4% in November 2020. The number of private sector jobs in New York State is based on a payroll survey of 18,000 New York businesses conducted by the U.S. Department of Labor’s Bureau of Labor Statistics (BLS).
The New York unemployment rate most notably reached a high of 10.80% in 1982 following a recessionary period. New York Unemployment Rate is at 8.40%, compared to 9.20% last month and 3.90% last year. This is higher than the long term average of 6.55%. Basic Info.
|Source||Bureau of Labor Statistics|
It went into effect April 5, 2020 and expires the benefit week ending December 27, 2020. The Extended Benefits Program (EB) went into effect the week ending July 5, 2020. It currently provides up to 20 weeks of additional benefits . (The number of available weeks of EB depends upon New York’s unemployment rate.
Although the decrease in the number of unemployed people was relatively small by historical standards, the jobless rate fell to its lowest level since 1969, when it was 3.4 percent. In 2019, the unemployment rates declined to 3.5 percent for both men and women.
There are currently 21 million unemployed Americans but roughly 30 million Americans collecting unemployment benefits.
States that pay lowest unemployment insurance compensation Mississippi pays the lowest amount in the country, followed by Arizona .