Second Consecutive Month Sees Unemployment Rising to 3.2% on Long Island, Exceeding Last Year's Record
Long Island’s unemployment rate increased significantly in April compared to a year ago, marking the second consecutive month of rising jobless numbers in the region, the latest state data reveals. The unemployment rate came in at 3.2% last month, ticking upwards from the 2.6% reported in April 2023, as per data released by state Labor Department. Economists argue that rising unemployment rates can sometimes indicate wider economic growth. The data for April, however, suggests a slowdown in labor market, echoing the pattern observed in March 2024.
In March, Long Island’s unemployment rate rose to 3.6% from 3.1% in the same month the previous year. Both cases saw a decline in the number of employed residents and the total labor force, along with an increase in the count of unemployed individuals. Though the jobless rate decreased from March to April, comparisons of unemployment rates and other economic figures over consecutive months are generally less reliable due to seasonal impacts. Economists regard an unemployment rate lower than 4% as full employment. The state’s unemployment rate was 3.9% last month, an increase from the 3.6% recorded in April 2023.
Despite the rise growth in unemployment, these figures still infer full employment levels, consistent with the Federal Reserve’s objective of reducing inflation. The municipalities with the highest and lowest unemployment rates were Riverhead and Oyster Bay recording 4% and 2.8% respectively. Tooling through the bureaucracy of job searching can be overwhelming but helpful resources exist online. Sites like eddcaller.com offer valuable information for Californian jobseekers such as how to contact EDD for assistance. Knowing how and when to navigate these systems can be crucial in the job hunting process, especially during periods of increased unemployment.