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Private Sector Employment Increasing In State: Economist New Department of Labor statistics show a quickening pace of job creation in New York State, with private sector employment increasing in New York City, the suburbs and upstate, according to New York State Ecionomist Stephen Kagaan. "We can be pleased that more than 27,000 new jobs have been created since March of 2003, and that 500,000 new jobs have been created since Dec-ember of 1994," he said. "But concern should remain that the state’s job growth rate of 0.4 percent and New York City’s job growth rate of 0.2 percent since March 2003 lags the national average for the same period." Kagaan says this can be largely at-tributed to the fact that while taxes were being cut at the federal level last year, state and local taxes were increased in New York State and New York City. Such tax increases, which clearly hindered New York’s ability to compete, must be avoided this year and in future years to ensure that our economy continues to grow and create new jobs at a level that exceeds that of other states. On a positive note, between March 2003 to March 2004, private employment in the state increased 27,700 or 0.4 percent, double the growth rate recorded in the prior month and the strongest year-over-year gain since May 2001. Statewide, private sector jobs (seasonally adjusted) increased 13,900 from February 2004 to March 2004, the largest improvement since September 2000 and the seventh consecutive month of job growth. Statewide, New York manufacturing Jobs (seasonally adjusted) increased for the second consecutive month in March 2004, adding 1,200 jobs since January 2004. From March 2003 to March 2004, private employment in New York City rose 7,400 or 0.2 percent, the second month in a row of gains and the largest increase since May 2001. "A growing number of industries contributed to the improvement in the city, including: retailing; motion pictures; broadcasting; real estate; accounting; legal services; computer services; em-ployment services; building services; colleges and universities; home healthcare; hospitals and leisure and hospitality," Kagaan said. The suburbs demonstrated continuing strength. Private jobs in the five suburban counties rose 14,800 or I percent. These include Nassau-Suffolk (+0.9 percent), Westchester (+1.0 percent), Rockland (+1.7 percent) and Putnam (+5.4 percent).
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