Overall unemployment rate moved up to 4.7% with the biggest shift in Restaurants & Hotels, which gained 2,800 roles, based on the most recently available information published in July 2021.
Total employment in the Albany-Schenectady-Troy, NY market rose by 3,115 jobs in June and the unemployment rate increased compared to the prior month by 30 bps to 4.7%. The national unemployment rate increased by 60 bps over the same time to 6.1%.
- Albany-Schenectady-Troy, NY unemployment rate is 139 bps below the national rate which is a positive sign.
- Unemployment in the market is 570 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) declined in June versus prior month by -0.7% 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 grew by 0.4% . Key sectors include:
- Government: 97,100; -900
- Education & Healthcare: 88,900; -1,800
- Transportation & Utilities: 72,300; +800
- Business Services: 56,100; no change
- Restaurants & Hotels: 36,400; +2,800
- Manufacturing: 25,700; +300
- Financial Services: 25,000; no change
- Construction, Mining: 21,500; +500
- Other Jobs: 15,800; +200
- IT & Development: 7,900; +100
Employment Change by Key Sector
Data is based on the most recent 12 months available, through June 2021 (Data published July 2021 and reports created on July 28, 2021). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.