Overall unemployment rate moved down to 8.8% with the biggest shift in Restaurants & Hotels, which gained 24,700 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 339,291 jobs in March and the unemployment rate decreased compared to the prior month by 110 bps to 8.8%. The national unemployment rate decreased by 38 bps over the same time to 6.2%.
- New York-Newark-Jersey City, NY-NJ-PA unemployment rate is 262 bps above the national rate which is a negative sign.
- Unemployment in the market is 470 bps above the unemployment rate in the market last year at this time, which is a negative.
- Average wages (per hour) grew in March versus prior month by 4.7% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 1.1% . Key sectors include:
- Education & Healthcare: 1,977,200; +20,100
- Transportation & Utilities: 1,536,300; +3,500
- Business Services: 1,465,800; +14,100
- Government: 1,295,300; +10,900
- Financial Services: 755,000; -700
- Restaurants & Hotels: 571,400; +24,700
- Construction, Mining: 355,400; +11,600
- Other Jobs: 344,300; +2,300
- Manufacturing: 330,800; +3,300
- IT & Development: 291,400; +4,400
Data is based on the most recent 12 months available, through March 2021 (Data published April 2021 and reports created on April 29, 2021). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.