Unemployment Rate Declines as Jobs Return to Nassau County
Mineola, NY – Nassau County Executive Edward P. Mangano’s economic policies of freezing property taxes for four straight years and creating local jobs have resulted in increased sales tax receipts and lower unemployment. This week, the New York State Department of Labor released statistics indicating a drop in unemployment to 5.9% this October marks the first time the unemployment rate has fallen below 6% since 2008.
Several weeks ago, budget officials received Nassau’s quarterly sales tax return which grew by 17%, bringing the year-to-date growth in sales tax receipts to over 9% or $68 million above that of 2012. This significant increase in sales tax receipts, along with Nassau County having an unemployment rate under 6%, is clearly the result of County Executive Mangano’s economic and job creation policies.
“My administration knows that high taxes kill jobs and hurt the local economy,” County Executive Mangano said. “That is why I repealed the Home Energy Tax and froze property taxes for the past four years. My policies of freezing taxes have sent a clear and loud message to employers that Nassau is open for business. This reduction in unemployment is further evidence that our economic policies are benefiting all residents.”
County Executive Mangano and his economic development team have helped create and retain more than 19,000 private sector jobs in Nassau County. Since taking office, the Mangano administration helped attract new employers to Nassau County including the International Headquarters of Hain Celestrial, while helping other local employers expand their operations and add jobs to local offices.
Just recently, Camoin Associates issued an independent report that was commissioned by the Nassau County Industrial Development Agency demonstrating how the film industry is also expanding in Nassau and generated over $140 million in economic benefit for the County over the past year.
To help residents find employment, County Executive Mangano hosted several private sector job fairs that collectively drew thousands of employers and 25,000 job seekers. For those residents unable to attend the job fairs and employers unable to advertise local job opportunities, County Executive Mangano launched the application NassauWorks which connects job seekers with over 19,000 local employment opportunities at no cost to the employer.