Overall unemployment rate moved down to 4.2% with the biggest shift in Restaurants & Hotels, which gained 37,000 roles, based on the most recently available information published in June 2022.
Total employment in the New York-Newark-Jersey City, NY-NJ-PA market rose by 3,213 jobs in April and the unemployment rate decreased compared to the prior month by 50 bps to 4.2%. The national unemployment rate decreased by 42 bps over the same time to 3.3%.
- New York-Newark-Jersey City, NY-NJ-PA unemployment rate is 86 bps above the national rate which is a negative sign.
- Unemployment in the market is 380 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in April versus prior month by 2.8% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 1.2% . Key sectors include:
- Education & Healthcare: 2,073,900; +19,100
- Transportation & Utilities: 1,632,800; -500
- Business Services: 1,599,500; +25,500
- Government: 1,298,800; +7,400
- Restaurants & Hotels: 819,300; +37,000
- Financial Services: 773,100; +2,500
- Other Jobs: 398,500; +8,100
- Construction, Mining: 387,000; +10,500
- Manufacturing: 339,100; +100
- IT & Development: 319,300; +1,000
Data is based on the most recent 12 months available, through April 2022 (Data published June 2022 and reports created on June 1, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.