Overall unemployment rate moved down to 3.3% with the biggest shift in Education & Healthcare, which gained 800 roles, based on the most recently available information published in April 2022.
Total employment in the Albany-Schenectady-Troy, NY market rose by 4,908 jobs in March and the unemployment rate decreased compared to the prior month by 30 bps to 3.3%. The national unemployment rate decreased by 39 bps over the same time to 3.8%.
- Albany-Schenectady-Troy, NY unemployment rate is 45 bps below the national rate which is a positive sign.
- Unemployment in the market is 210 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in March versus prior month by 1.9% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.5% . Key sectors include:
- Government: 97,200; -300
- Education & Healthcare: 93,100; +800
- Transportation & Utilities: 74,100; -200
- Business Services: 54,900; +300
- Restaurants & Hotels: 34,800; +800
- Financial Services: 26,300; +100
- Manufacturing: 26,200; no change
- Construction, Mining: 18,600; +600
- Other Jobs: 17,100; +200
- IT & Development: 7,400; +100
Data is based on the most recent 12 months available, through March 2022 (Data published April 2022 and reports created on April 27, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.