Overall unemployment rate moved down to 3.2% with the biggest shift in Transportation & Utilities, which gained 2,700 roles, based on the most recently available information published in December 2021.
Total employment in the Albany-Schenectady-Troy, NY market declined by 3,211 jobs in November and the unemployment rate decreased compared to the prior month by 50 bps to 3.2%. The national unemployment rate decreased by 37 bps over the same time to 3.9%.
- Albany-Schenectady-Troy, NY unemployment rate is 69 bps below the national rate which is a positive sign.
- Unemployment in the market is 190 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in November versus prior month by 1.1% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs stayed flat. Key sectors include:
- Government: 98,500; +200
- Education & Healthcare: 94,900; +700
- Transportation & Utilities: 75,000; +2,700
- Business Services: 55,000; -900
- Restaurants & Hotels: 33,000; -2,200
- Financial Services: 26,200; no change
- Manufacturing: 25,900; +200
- Construction, Mining: 21,400; -800
- Other Jobs: 16,100; +100
- IT & Development: 8,000; no change
Data is based on the most recent 12 months available, through November 2021 (Data published December 2021 and reports created on January 6, 2021). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.