Overall unemployment rate moved down to 4.3% with the biggest shift in Restaurants & Hotels, which gained 1,700 roles, based on the most recently available information published in April 2022.
Total employment in the Buffalo-Cheektowaga-Niagara Falls, NY market rose by 6,727 jobs in March and the unemployment rate decreased compared to the prior month by 30 bps to 4.3%. The national unemployment rate decreased by 39 bps over the same time to 3.8%.
- Buffalo-Cheektowaga-Niagara Falls, NY unemployment rate is 55 bps above the national rate which is a negative sign.
- Unemployment in the market is 260 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in March versus prior month by 2% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.8% . Key sectors include:
- Transportation & Utilities: 98,100; +100
- Education & Healthcare: 94,500; +1,100
- Government: 83,400; no change
- Business Services: 67,100; +200
- Restaurants & Hotels: 52,200; +1,700
- Manufacturing: 51,900; +600
- Financial Services: 34,700; no change
- Other Jobs: 23,900; +400
- Construction, Mining: 19,400; +100
- IT & Development: 5,800; +100
Data is based on the most recent 12 months available, through March 2022 (Data published April 2022 and reports created on April 27, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.