Overall unemployment rate moved down to 3.3% with the biggest shift in Government, which gained 5,000 roles, based on the most recently available information published in November 2022.
Total employment in the Buffalo-Cheektowaga-Niagara Falls, NY market rose by 2,093 jobs in September and the unemployment rate decreased compared to the prior month by 80 bps to 3.3%. The national unemployment rate decreased by 47 bps over the same time to 3.3%.
- Buffalo-Cheektowaga-Niagara Falls, NY unemployment rate is 2 bps below the national rate which is a positive sign.
- Unemployment in the market is 110 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) declined in September versus prior month by -0.8% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.4% . Key sectors include:
- Transportation & Utilities: 100,600; -300
- Education & Healthcare: 95,500; +2,000
- Government: 83,700; +5,000
- Business Services: 68,800; -600
- Restaurants & Hotels: 55,400; -3,100
- Manufacturing: 52,100; -100
- Financial Services: 34,700; -500
- Other Jobs: 24,400; no change
- Construction, Mining: 22,600; no change
- IT & Development: 5,700; no change
Data is based on the most recent 12 months available, through September 2022 (Data published November 2022 and reports created on November 2, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.