Overall unemployment rate moved down to 3.6% with the biggest shift in Restaurants & Hotels, which gained 800 roles, based on the most recently available information published in May 2023.
Total employment in the Buffalo-Cheektowaga-Niagara Falls, NY market rose by 4,495 jobs in March and the unemployment rate decreased compared to the prior month by 40 bps to 3.6%. The national unemployment rate decreased by 27 bps over the same time to 3.6%.
- Buffalo-Cheektowaga-Niagara Falls, NY unemployment rate is 2 bps below the national rate which is a positive sign.
- Unemployment in the market is 40 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 3.3% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.3% . Key sectors include:
- Transportation & Utilities: 97,000; no change
- Education & Healthcare: 94,700; +300
- Government: 88,800; -200
- Business Services: 74,600; -100
- Manufacturing: 54,600; +400
- Restaurants & Hotels: 53,200; +800
- Financial Services: 32,700; -100
- Other Jobs: 24,300; +300
- Construction, Mining: 20,500; +400
- IT & Development: 5,600; no change
Data is based on the most recent 12 months available, through March 2023 (Data published May 2023 and reports created on May 9,2023). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.