Overall unemployment rate moved up to 9.8% with the biggest shift in Education & Healthcare, which gained 29,600 roles, based on the most recently available information published in April 2021.
Total employment in the New York-Newark-Jersey City, NY-NJ-PA market rose by 30,543 jobs in February and the unemployment rate increased compared to the prior month by 20 bps to 9.8%. The national unemployment rate decreased by 26 bps over the same time to 6.6%.
- New York-Newark-Jersey City, NY-NJ-PA unemployment rate is 325 bps above the national rate which is a negative sign.
- Unemployment in the market is 610 bps above the unemployment rate in the market last year at this time, which is a negative.
- Average wages (per hour) grew in February versus prior month by 5.2% and are up 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:
- Education & Healthcare: 1,947,200; +29,600
- Transportation & Utilities: 1,535,400; -17,700
- Business Services: 1,449,100; +14,300
- Government: 1,285,900; +14,200
- Financial Services: 755,300; -1,400
- Restaurants & Hotels: 544,400; +19,000
- Construction, Mining: 346,700; -13,000
- Other Jobs: 341,600; +600
- Manufacturing: 327,500; +1,600
- IT & Development: 286,500; +4,800
Data is based on the most recent 12 months available, through February 2021 (Data published April 2021 and reports created on April 9, 2021). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.