Overall unemployment rate moved up to 4.4% with the biggest shift in Restaurants & Hotels, which gained 52,100 roles, based on the most recently available information published in August 2022.
Total employment in the New York-Newark-Jersey City, NY-NJ-PA market rose by 25,902 jobs in June and the unemployment rate increased compared to the prior month by 30 bps to 4.4%. The national unemployment rate increased by 46 bps over the same time to 3.8%.
- New York-Newark-Jersey City, NY-NJ-PA unemployment rate is 56 bps above the national rate which is a negative sign.
- Unemployment in the market is 360 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in June versus prior month by 0.7% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 1.3% . Key sectors include:
- Education & Healthcare: 2,067,700; -4,800
- Transportation & Utilities: 1,668,400; +19,500
- Business Services: 1,639,900; +26,700
- Government: 1,306,500; +6,600
- Restaurants & Hotels: 914,500; +52,100
- Financial Services: 782,600; +6,500
- Other Jobs: 408,100; +6,600
- Construction, Mining: 395,600; +3,700
- Manufacturing: 342,500; +2,700
- IT & Development: 328,600; +7,400
Data is based on the most recent 12 months available, through June 2022 (Data published August 2022 and reports created on August 3, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.