Long Island Added More Than 29000 Private Sector Jobs in 2012

Ed Lynch Tuesday, March 12, 2013

There are many different numbers being released about jobs, unemployment, and economic stagnation, it is hard to believe that is true and what isn't. There are have been plenty of jobs that have been lost on Long Island in the past several months. Some of this is due to the damages by Hurricane Sandy. Most of the job cuts are through economic downfall.

With this grim news, there is a light in this tunnel that continues to shine. The state Department of Labor released numbers today that indicate a slight uptick in private sector job growth. Statistics show Long Island added more than 29,000 private-sector jobs last year, an increase of 2.9 percent. The report also points to 17 consecutive months of job creation statewide. This is a small drop in the bucket compared to the overall unemployment rate. 

That doesn't mean that Long Island is the only place with a slight increase. Tthe nationwide unemployment rate has dropped from 7.9 percent to 7.7 percent. But some economic analysts say those figures can be deceptive because a record number of people have stopped looking for work and aren't factored into the unemployment rate. Perhaps this is also what has happened on Long Island?

Are there fewer jobs or are there just more people looking for those jobs than ever before? While 29,000 is a good start, there needs to be some way in which companies can hire more employees and bring back a viable workforce.

Edwardl@longislandyellowpages.com

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