Overall unemployment rate moved down to 3.3% with the biggest shift in Transportation & Utilities, which gained 1,500 roles, based on the most recently available information published in February 2022.
Total employment in the Buffalo-Cheektowaga-Niagara Falls, NY market rose by 1,489 jobs in December and the unemployment rate decreased compared to the prior month by 100 bps to 3.3%. The national unemployment rate decreased by 20 bps over the same time to 3.7%.
- Buffalo-Cheektowaga-Niagara Falls, NY unemployment rate is 39 bps below the national rate which is a positive sign.
- Unemployment in the market is 460 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in December versus prior month by 2.8% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -0.1%. Key sectors include:
- Transportation & Utilities: 100,800; +1,500
- Education & Healthcare: 92,500; +100
- Government: 83,400; -400
- Business Services: 69,400; +500
- Manufacturing: 52,800; +700
- Restaurants & Hotels: 52,000; -1,000
- Financial Services: 35,500; -100
- Other Jobs: 24,300; -300
- Construction, Mining: 22,200; -1,400
- IT & Development: 5,700; no change
Data is based on the most recent 12 months available, through December 2021 (Data published February 2022 and reports created on February 4, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.