Overall unemployment rate moved down to 3.4% with the biggest shift in Restaurants & Hotels, which gained 5,400 roles, based on the most recently available information published in June 2022.
Total employment in the Buffalo-Cheektowaga-Niagara Falls, NY market rose by 11,090 jobs in May and the unemployment rate decreased compared to the prior month by 10 bps to 3.4%. The national unemployment rate increased by 4 bps over the same time to 3.4%.
- Buffalo-Cheektowaga-Niagara Falls, NY unemployment rate is 2 bps above the national rate which is a negative sign.
- Unemployment in the market is 200 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in May versus prior month by 3.9% and are equal compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 1.9% . Key sectors include:
- Transportation & Utilities: 100,800; +600
- Education & Healthcare: 94,300; +300
- Government: 84,300; +800
- Business Services: 69,100; +2,300
- Restaurants & Hotels: 58,700; +5,400
- Manufacturing: 51,800; -100
- Financial Services: 34,700; -100
- Other Jobs: 24,400; +300
- Construction, Mining: 21,600; +900
- IT & Development: 5,700; -100
Data is based on the most recent 12 months available, through May 2022 (Data published June 2022 and reports created on June 29, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.