Overall unemployment rate moved down to 4.7% with the biggest shift in Restaurants & Hotels, which gained 22,100 roles, based on the most recently available information published in April 2022.
Total employment in the New York-Newark-Jersey City, NY-NJ-PA market rose by 79,596 jobs in March and the unemployment rate decreased compared to the prior month by 40 bps to 4.7%. The national unemployment rate decreased by 39 bps over the same time to 3.8%.
- New York-Newark-Jersey City, NY-NJ-PA unemployment rate is 95 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 March versus prior month by 3.3% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.9% . Key sectors include:
- Education & Healthcare: 2,055,600; +20,800
- Transportation & Utilities: 1,630,200; +2,600
- Business Services: 1,578,600; +16,300
- Government: 1,292,200; +5,100
- Restaurants & Hotels: 783,800; +22,100
- Financial Services: 769,700; +2,000
- Other Jobs: 390,900; +2,400
- Construction, Mining: 377,400; +7,800
- Manufacturing: 339,400; +3,400
- IT & Development: 319,000; +1,100
Data is based on the most recent 12 months available, through March 2022 (Data published April 2022 and reports created on April 27, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.