Overall unemployment rate moved down to 7.6% with the biggest shift in Government, which lost 12,600 roles, based on the most recently available information published in September 2021.
Total employment in the New York-Newark-Jersey City, NY-NJ-PA market declined by 31,230 jobs in August and the unemployment rate decreased compared to the prior month by 40 bps to 7.6%. The national unemployment rate decreased by 38 bps over the same time to 5.3%.
- New York-Newark-Jersey City, NY-NJ-PA unemployment rate is 231 bps above the national rate which is a negative 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 August versus prior month by 3.7% 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:
- Education & Healthcare: 1,938,600; -900
- Transportation & Utilities: 1,554,400; -6,400
- Business Services: 1,515,900; -100
- Government: 1,264,800; -12,600
- Financial Services: 760,300; +6,400
- Restaurants & Hotels: 751,500; +4,300
- Construction, Mining: 376,000; +1,000
- Other Jobs: 361,300; +1,100
- Manufacturing: 337,400; +2,700
- IT & Development: 302,900; +3,300
Data is based on the most recent 12 months available, through August 2021 (Data published September 2021 and reports created on September 29, 2021). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.