Overall unemployment rate stayed flat at 4.7% with the biggest shift in Restaurants & Hotels, which lost 3,600 roles, based on the most recently available information published in December 2021.
Total employment in the Buffalo-Cheektowaga-Niagara Falls, NY market declined by 3,834 jobs in October and the unemployment rate stayed flat. The national unemployment rate decreased by 30 bps over the same time to 4.3%.
- Buffalo-Cheektowaga-Niagara Falls, NY unemployment rate is 44 bps above the national rate which is a negative sign.
- Unemployment in the market is 170 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in October versus prior month by 4.2% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.6% . Key sectors include:
- Transportation & Utilities: 97,500; +2,100
- Education & Healthcare: 91,600; +500
- Government: 83,600; +2,700
- Business Services: 68,700; +900
- Restaurants & Hotels: 54,200; -3,600
- Manufacturing: 51,600; -200
- Financial Services: 35,400; +200
- Other Jobs: 24,100; +200
- Construction, Mining: 24,000; +200
- IT & Development: 5,800; +100
Data is based on the most recent 12 months available, through October 2021 (Data published December 2021 and reports created on December 2, 2021). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.