Overall unemployment rate moved up to 3.6% with the biggest shift in Restaurants & Hotels, which gained 2,000 roles, based on the most recently available information published in August 2022.
Total employment in the Buffalo-Cheektowaga-Niagara Falls, NY market rose by 1,486 jobs in June and the unemployment rate increased compared to the prior month by 20 bps to 3.6%. The national unemployment rate increased by 46 bps over the same time to 3.8%.
- Buffalo-Cheektowaga-Niagara Falls, NY unemployment rate is 24 bps below the national rate which is a positive sign.
- Unemployment in the market is 230 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in June versus prior month by 2.3% 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: 101,100; +200
- Education & Healthcare: 92,200; -1,200
- Government: 84,100; -100
- Business Services: 69,300; +500
- Restaurants & Hotels: 60,200; +2,000
- Manufacturing: 52,200; +100
- Financial Services: 34,800; -100
- Other Jobs: 24,800; +400
- Construction, Mining: 22,500; +800
- IT & Development: 5,700; no change
Data is based on the most recent 12 months available, through June 2022 (Data published August 2022 and reports created on August 3, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.