November 27, 2013
Statement From LIA Chief Economist John Rizzo on Unemployment Figures for LI
By: Dr. John A. Rizzo
"Long Island's unemployment rate fell to 5.9 percent in October, 2013, down from 7 percent in October 2012. This is the first time unemployment has been below 6 percent since before the recession. Unemployment was 5.7 percent in Nassau County, a decline from 5.9 percent in September, while the unemployment rate in Suffolk dropped to 6.1 percent, down from 6.2 percent in September. These results demonstrate that employment continues to improve on Long Island, and that Long Island has fared better than New York State and the rest of the country in terms of employment gains. Preliminary evidence suggests that seasonal hiring will be strong as well."