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Spotlight: Recovery of jobs since recession almost complete in N.Y.

The U.S. “jobs gap” has closed, and the national employment-to-population ratio has returned to its demographically adjusted pre-recession (November 2007) level, according to a new study published on Aug. 4 by The Hamilton Project at the Brookings Institution.  Based on data from the Bureau of Labor Statistics and additional calculations by the study’s authors, the study found that not all demographic segments or geographic regions have recovered jobs to the same degree.  The report’s state-level analysis shows stronger recovery in the Midwest and Northeast and slower job growth in the West and Southeast.  Michigan’s 2017 employment rate is 2.1 percent above its 2007 figure — the highest reported by the study; Wyoming shows the largest remaining employment gap, at 4.3 percent below its 2007 rate. With current employment at 0.4 percent below its 2007 rate, New York has almost closed the employment gap, according to the Hamilton Project study.

(c) 2017 Rochester Business Journal. To obtain permission to reprint this article, call 585-363-7269 or email madams@bridgetowermedia.com.

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