Overall unemployment rate moved down to 5.3% with the biggest shift in Restaurants & Hotels, which gained 4,300 roles, based on the most recently available information published in June 2021.
Total employment in the Buffalo-Cheektowaga-Niagara Falls, NY market rose by 5,287 jobs in May and the unemployment rate decreased compared to the prior month by 70 bps to 5.3%. The national unemployment rate decreased by 25 bps over the same time to 5.5%.
- Buffalo-Cheektowaga-Niagara Falls, NY unemployment rate is 20 bps below the national rate which is a positive sign.
- Unemployment in the market is 1,020 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in May versus prior month by 0.4% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 2.0% . Key sectors include:
- Transportation & Utilities: 97,100; +2,000
- Education & Healthcare: 90,600; -400
- Government: 87,600; +1,600
- Business Services: 68,600; +200
- Restaurants & Hotels: 52,800; +4,300
- Manufacturing: 51,700; +400
- Financial Services: 35,600; no change
- Construction, Mining: 23,200; +2,400
- Other Jobs: 23,100; +100
- IT & Development: 5,900; +100
Data is based on the most recent 12 months available, through May 2021 (Data published June 2021 and reports created on June 30, 2021). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.