Overall unemployment rate moved up to 4.1% with the biggest shift in Transportation & Utilities, which gained 1,000 roles, based on the most recently available information published in September 2022.
Total employment in the Buffalo-Cheektowaga-Niagara Falls, NY market rose by 1,413 jobs in August and the unemployment rate increased compared to the prior month by 10 bps to 4.1%. The national unemployment rate stayed flat over the same time period at 3.8%.
- Buffalo-Cheektowaga-Niagara Falls, NY unemployment rate is 31 bps above the national rate which is a negative sign.
- Unemployment in the market is 120 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 0.8% and are down 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:
- Transportation & Utilities: 100,900; +1,000
- Education & Healthcare: 93,700; +800
- Government: 78,300; +100
- Business Services: 69,500; -200
- Restaurants & Hotels: 57,900; -100
- Manufacturing: 52,400; +400
- Financial Services: 35,200; +700
- Other Jobs: 24,500; no change
- Construction, Mining: 22,700; +100
- IT & Development: 5,800; no change
Data is based on the most recent 12 months available, through August 2022 (Data published September 2022 and reports created on September 28, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.