Overall unemployment rate moved up to 4.7% with the biggest shift in Education & Healthcare, which gained 1,800 roles, based on the most recently available information published in April 2022.
Total employment in the Buffalo-Cheektowaga-Niagara Falls, NY market declined by 1,903 jobs in February and the unemployment rate increased compared to the prior month by 30 bps to 4.7%. The national unemployment rate decreased by 28 bps over the same time to 4.1%.
- Buffalo-Cheektowaga-Niagara Falls, NY unemployment rate is 56 bps above the national rate which is a negative sign.
- Unemployment in the market is 330 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in February versus prior month by 2.8% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.7% . Key sectors include:
- Transportation & Utilities: 98,000; -300
- Education & Healthcare: 93,100; +1,800
- Government: 82,700; +600
- Business Services: 66,000; -600
- Manufacturing: 51,300; +600
- Restaurants & Hotels: 50,200; +600
- Financial Services: 34,800; +800
- Other Jobs: 23,500; +300
- Construction, Mining: 19,200; -400
- IT & Development: 5,800; +100
Data is based on the most recent 12 months available, through February 2022 (Data published April 2022 and reports created on April 6, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.