The numbers that the state economist, Mr. Steindel, quotes are “seasonally adjusted” which to me is a compromised manipulation of the actual data. Of course it is in the interest of the government to provide a rosy picture of the situation. I believe raw data is a more objective barometer of the labor market.
When we look at the raw data for July, there was a net loss of 1,200 jobs in the private sector although there was a net gain when compared to July of 2010.
Furthermore, manufacturing and construction both lost and the main gains were in hospitality and leisure.
The raw data evaluation goes more hand in hand with the revenue collected by the state which saw a drop in the last quarter.