Overall unemployment rate moved down to 2.8% with the biggest shift in Business Services, which gained 3,200 roles, based on the most recently available information published in June 2023.
Total employment in the Buffalo-Cheektowaga-Niagara Falls, NY market rose by 5,988 jobs in April and the unemployment rate decreased compared to the prior month by 80 bps to 2.8%. The national unemployment rate decreased by 53 bps over the same time to 3.1%.
- Buffalo-Cheektowaga-Niagara Falls, NY unemployment rate is 30 bps below the national rate which is a positive sign.
- Unemployment in the market is 60 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in April versus prior month by 2.4% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.8% . Key sectors include:
- Transportation & Utilities: 97,400; +300
- Education & Healthcare: 94,600; no change
- Government: 88,500; -200
- Business Services: 77,400; +3,200
- Manufacturing: 54,600; +100
- Restaurants & Hotels: 53,800; +700
- Financial Services: 32,400; -700
- Other Jobs: 24,200; -100
- Construction, Mining: 21,200; +800
- IT & Development: 5,600; no change
Data is based on the most recent 12 months available, through April 2023 (Data published June 2023 and reports created on June 8,2023). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.