Overall unemployment rate moved up to 3.1% with the biggest shift in Restaurants & Hotels, which lost 1,200 roles, based on the most recently available information published in January 2022.
Total employment in the Buffalo-Cheektowaga-Niagara Falls, NY market declined by 9,560 jobs in November and the unemployment rate increased compared to the prior month by 40 bps to 3.1%. The national unemployment rate decreased by 4 bps over the same time to 3.4%.
- Buffalo-Cheektowaga-Niagara Falls, NY unemployment rate is 26 bps below the national rate which is a positive sign.
- Unemployment in the market is 80 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in November versus prior month by 0.4% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -0.1%. Key sectors include:
- Transportation & Utilities: 102,100; +500
- Education & Healthcare: 95,900; -400
- Government: 86,200; +100
- Business Services: 69,600; +600
- Manufacturing: 52,700; +500
- Restaurants & Hotels: 52,600; -1,200
- Financial Services: 34,700; -100
- Other Jobs: 24,600; +100
- Construction, Mining: 21,900; -700
Data is based on the most recent 12 months available, through November 2022 (Data published January 2022 and reports created on January 3, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.