Overall unemployment rate moved down to 3.9% with the biggest shift in Education & Healthcare, which gained 4,000 roles, based on the most recently available information published in November 2021.
Total employment in the Albany-Schenectady-Troy, NY market rose by 876 jobs in September and the unemployment rate decreased compared to the prior month by 70 bps to 3.9%. The national unemployment rate decreased by 72 bps over the same time to 4.6%.
- Albany-Schenectady-Troy, NY unemployment rate is 66 bps below the national rate which is a positive sign.
- Unemployment in the market is 160 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) declined in September versus prior month by -0.8% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.8% . Key sectors include:
- Government: 96,300; +3,300
- Education & Healthcare: 91,300; +4,000
- Transportation & Utilities: 71,100; -200
- Business Services: 55,800; -100
- Restaurants & Hotels: 34,300; -3,000
- Financial Services: 26,000; -200
- Manufacturing: 25,700; +100
- Construction, Mining: 22,200; -100
- Other Jobs: 15,700; -300
- IT & Development: 7,900; -100
Data is based on the most recent 12 months available, through September 2021 (Data published November 2021 and reports created on November 3, 2021). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.