Overall unemployment rate moved down to 4.1% with the biggest shift in Education & Healthcare, which gained 18,400 roles, based on the most recently available information published in May 2023.

Total employment in the New York-Newark-Jersey City, NY-NJ-PA market rose by 64,716 jobs in March and the unemployment rate decreased compared to the prior month by 30 bps to 4.1%. The national unemployment rate decreased by 27 bps over the same time to 3.6%.

  • New York-Newark-Jersey City, NY-NJ-PA unemployment rate is 48 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 March versus prior month by 1.1% and are down compared to last year at this time in the market.
Month over Month Unemployment Change
Year over Year Unemployment Change
New York-Newark-Jersey City, NY-NJ-PA Unemployment March 2023

For key employment segments of the market, total jobs grew by 0.6% . Key sectors include:

  • Education & Healthcare: 2,225,600; +18,400
  • Transportation & Utilities: 1,656,200; +600
  • Business Services: 1,621,600; +9,900
  • Government: 1,300,400; +2,100
  • Restaurants & Hotels: 873,200; +17,900
  • Financial Services: 805,500; +1,000
  • Other Jobs: 401,500; +400
  • Construction, Mining: 398,100; +6,100
  • Manufacturing: 348,900; +2,100
  • IT & Development: 323,600; +2,100
New York-Newark-Jersey City, NY-NJ-PA Unemployment by Industry March 2023

Data is based on the most recent 12 months available, through March 2023 (Data published May 2023 and reports created on May 9,2023).  Source: Government data agency and locally acquired statistics.

Note: All reported data is not seasonally adjusted.