Overall unemployment rate moved down to 3.7% with the biggest shift in Restaurants & Hotels, which gained 35,500 roles, based on the most recently available information published in June 2023.
Total employment in the New York-Newark-Jersey City, NY-NJ-PA market declined by 9,290 jobs in April and the unemployment rate decreased compared to the prior month by 40 bps to 3.7%. The national unemployment rate decreased by 53 bps over the same time to 3.1%.
- New York-Newark-Jersey City, NY-NJ-PA unemployment rate is 60 bps above the national rate which is a negative sign.
- Unemployment in the market is 50 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 2.6% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.5% . Key sectors include:
- Education & Healthcare: 2,225,900; -2,800
- Transportation & Utilities: 1,645,900; -9,100
- Business Services: 1,644,400; +23,000
- Government: 1,299,700; -700
- Restaurants & Hotels: 911,200; +35,500
- Financial Services: 802,100; -2,000
- Construction, Mining: 409,400; +11,000
- Other Jobs: 402,700; +2,800
- Manufacturing: 348,500; -700
- IT & Development: 318,800; -3,800
Data is based on the most recent 12 months available, through April 2023 (Data published June 2023 and reports created on June 8,2023). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.