Overall unemployment rate moved down to 4.0% with the biggest shift in Education & Healthcare, which gained 2,300 roles, based on the most recently available information published in April 2023.
Total employment in the Buffalo-Cheektowaga-Niagara Falls, NY market rose by 3,731 jobs in February and the unemployment rate decreased compared to the prior month by 40 bps to 4.0%. The national unemployment rate increased by 3 bps over the same time to 3.9%.
- Buffalo-Cheektowaga-Niagara Falls, NY unemployment rate is 11 bps above the national rate which is a negative 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 February versus prior month by 2.7% 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:
- Transportation & Utilities: 96,900; -1,700
- Education & Healthcare: 94,000; +2,300
- Government: 89,000; +1,500
- Business Services: 75,200; +1,700
- Manufacturing: 54,300; +300
- Restaurants & Hotels: 52,700; +1,900
- Financial Services: 32,800; -100
- Other Jobs: 24,000; no change
- Construction, Mining: 20,100; -200
- IT & Development: 5,600; +100
Data is based on the most recent 12 months available, through February 2023 (Data published April 2023 and reports created on April 10, 2023). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.