As State President, Phillips will oversee the council’s activities within New York State and act as a liaison between the regional vice president, the council’s leadership team, and its staff.
“Home sales momentum is building,” said NAR Chief Economist Lawrence Yun.
Inventory for all property types declined in almost all areas, except for Rockland’s condo and co-op markets, the latter with an 84.6% gain. The Bronx led the region for new listings, with a 31.9% increase.
ALBANY—The New York State Department of Labor released on Sept. 22 preliminary local area unemployment rates for August 2020. Both the statewide and Hudson Valley unemployment rates fell more than 3% respectively.
From August 2019 to August 2020, the state’s private sector employment count decreased by 1,096,900. The state’s seasonally adjusted unemployment rate decreased from 15.9% in July to 12.5% in August 2020.
The state’s seasonally adjusted private sector job count increased over the month by 96,300, or 1.4%, to 7,198,600 in August 2020. The state’s private sector job count is based on a payroll survey of 18,000 New York employers, which is conducted by the U.S. Bureau of Labor Statistics.
Rates are calculated using methods prescribed by the U.S. Bureau of Labor Statistics. The state’s area unemployment rates rely in part on the results of the Current Population Survey, which contacts approximately 3,100 households in New York State each month.
The August 2020 unemployment rate for the Hudson Valley Region is 10.5%. That is down from 13.6% in July 2020 and up from 4.0% in August 2019.
In August 2020, there were 121,300 unemployed in the region, down from 161,100 in July 2020 and up from 46,200 in August 2019. Year-over-year in August 2020, the Hudson Valley labor force increased by 7,500 or 0.7%, to 1,160,600.
The Hudson Valley region’s August 2020 unemployment rate at 10.5% is tied with the Long Island Region for seventh place among the 10 labor market regions in New York State.
New York State Regions
August 2020 Unemployment Rates
North Country Region – 8.5%
Capital Region – 8.7%
Southern Tier – 8.7%
Mohawk Valley – 9.2%
Central New York – 9.6%
Finger Lakes – 9.7%
Hudson Valley – 10.5%
Long Island – 10.5%
Western NY – 10.6%
New York City – 16.3%
Source: New York State Department of Labor
Hudson Valley Region
August 2020 Unemployment Rates
Putnam County – 9.3%
Ulster County – 9.3%
Dutchess County – 9.4%
Rockland County – 10.4%
Orange County – 10.5%
Sullivan County – 10.9%
Westchester County – 11.1%
Source: New York State Department of Labor
As State President, Phillips will oversee the council’s activities within New York State and act as a liaison between the regional vice president, the council’s leadership team, and its staff.
“Home sales momentum is building,” said NAR Chief Economist Lawrence Yun.
Inventory for all property types declined in almost all areas, except for Rockland’s condo and co-op markets, the latter with an 84.6% gain. The Bronx led the region for new listings, with a 31.9% increase.
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