Overall unemployment rate moved up to 4.8% with the biggest shift in Government, which lost 4,900 roles, based on the most recently available information published in September 2021.
Total employment in the Albany-Schenectady-Troy, NY market rose by 1,184 jobs in July and the unemployment rate increased compared to the prior month by 10 bps to 4.8%. The national unemployment rate decreased by 43 bps over the same time to 5.7%.
- Albany-Schenectady-Troy, NY unemployment rate is 86 bps below the national rate which is a positive sign.
- Unemployment in the market is 560 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) declined in July versus prior month by -3.2% and are down compared to last year at this time in the market.
Month over Month Unemployment Change
Year over Year Unemployment Change
For key employment segments of the market, total jobs declined by -0.9%. Key sectors include:
- Government: 92,300; -4,900
- Education & Healthcare: 87,700; -600
- Transportation & Utilities: 71,400; -300
- Business Services: 55,800; -700
- Restaurants & Hotels: 37,200; +1,400
- Manufacturing: 25,900; +200
- Financial Services: 25,200; +200
- Construction, Mining: 22,300; +600
- Other Jobs: 15,900; +100
- IT & Development: 7,900; no change
Employment Change by Key Sector
Data is based on the most recent 12 months available, through July 2021 (Data published September 2021 and reports created on September 1, 2021). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.