Overall unemployment rate moved down to 5.0% with the biggest shift in Restaurants & Hotels, which gained 2,500 roles, based on the most recently available information published in June 2021.
Total employment in the Albany-Schenectady-Troy, NY market rose by 2,433 jobs in April and the unemployment rate decreased compared to the prior month by 70 bps to 5.0%. The national unemployment rate decreased by 43 bps over the same time to 5.7%.
- Albany-Schenectady-Troy, NY unemployment rate is 75 bps below the national rate which is a positive sign.
- Unemployment in the market is 860 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in April versus prior month by 0.7% and are equal compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 1.0% . Key sectors include:
- Government: 97,900; -100
- Education & Healthcare: 92,500; +800
- Transportation & Utilities: 71,200; +200
- Business Services: 56,400; -200
- Restaurants & Hotels: 31,800; +2,500
- Financial Services: 25,700; +600
- Manufacturing: 25,300; +100
- Construction, Mining: 18,900; +400
- Other Jobs: 15,600; +300
- IT & Development: 7,700; -100
Data is based on the most recent 12 months available, through April 2021 (Data published June 2021 and reports created on June 2, 2021). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.