With more than 300 public and private research universities and institutions of higher learning, UNY graduates are well-prepared with curriculums designed for today’s competitivebusiness environment. New York State ranked among the top 3 states in the nation in the key economic category of labor productivity (the value added by workers) in 9 out of the 10 years between 1992 and 2001 (the latest year for which data are available). The NYS Department of Labor calculated labor productivity, or the quantity of output per worker, by dividing gross state product (in chained 1996 dollars), by private sector employment (from the Bureau of Labor Statistics). This method was patterned after the method used by the Federal Reserve Bank of San Francisco to calculate labor productivity. New York's productivity also outpaced the nation's by more than 25% over the same period. In addition, the increase in New York's labor productivity was the fourth largest increase in the nation. While factors that can heighten productivity range from technological advances to capital investment increases, gains in workforce education and training provide a solid, reliable and quantifiable indicator. With respect to education, NYS ranked 5th in advanced degrees among all states, according to 2000 Census data. New York also invests heavily in its workforce, improving workplace skills through on-the job training, formal schooling and vocational or technical training. Upstate New York also boast one of of the Most Productive Workforces in the Nation1
Our labor costs are also low. Our average manufacturing wage is $13.86 per hour - 27th among the 50 states. Yet our workforce standards are higher, and our training and educational resources far greater. Statewide Labor Market Overview New York State's unemployment rate (not seasonally adjusted) was 8.6 percent in December 2009, up from 5.7 percent in Octobe 2008r. Index of Coincident Economic Indicators (ICEI) for New York State
New York State offers a number of resources assist businesses with their technical and informational needs:
New York State offers assistance to small and large businesses attempting to meet the challenges of creating new products, entering new markets and improving production. New York State can also assist with: training newly hired employees, linking your company with job seekers who possess the required skills, and partnering with various organizations to promote. Contact us for more information.
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