Overall unemployment rate stayed flat at 4.4% with the biggest shift in Education & Healthcare, which gained 38,500 roles, based on the most recently available information published in April 2023.
Total employment in the New York-Newark-Jersey City, NY-NJ-PA market rose by 76,438 jobs in February and the unemployment rate stayed flat. The national unemployment rate increased by 3 bps over the same time to 3.9%.
- New York-Newark-Jersey City, NY-NJ-PA unemployment rate is 51 bps above the national rate which is a negative sign.
- Unemployment in the market is 70 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in February versus prior month by 1.8% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.7% . Key sectors include:
- Education & Healthcare: 2,204,600; +38,500
- Transportation & Utilities: 1,657,000; -17,500
- Business Services: 1,612,000; +15,500
- Government: 1,297,900; +9,400
- Restaurants & Hotels: 856,100; +7,600
- Financial Services: 804,600; +1,400
- Other Jobs: 401,400; +2,400
- Construction, Mining: 391,900; +4,100
- Manufacturing: 347,000; +2,500
- IT & Development: 318,400; +7,300
Data is based on the most recent 12 months available, through February 2023 (Data published April 2023 and reports created on April 10, 2023). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.