Overall unemployment rate stayed flat at 4.2% with the biggest shift in Restaurants & Hotels, which gained 36,400 roles, based on the most recently available information published in June 2022.
Total employment in the New York-Newark-Jersey City, NY-NJ-PA market rose by 75,087 jobs in May and the unemployment rate stayed flat. The national unemployment rate increased by 4 bps over the same time to 3.4%.
- New York-Newark-Jersey City, NY-NJ-PA unemployment rate is 82 bps above the national rate which is a negative sign.
- Unemployment in the market is 330 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in May versus prior month by 0.4% 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: 2,074,700; +2,200
- Transportation & Utilities: 1,651,400; +16,900
- Business Services: 1,615,700; +15,000
- Government: 1,301,100; +400
- Restaurants & Hotels: 860,300; +36,400
- Financial Services: 776,700; +4,400
- Other Jobs: 400,900; +3,200
- Construction, Mining: 393,300; +6,100
- Manufacturing: 339,700; no change
- IT & Development: 321,100; +1,800
Data is based on the most recent 12 months available, through May 2022 (Data published June 2022 and reports created on June 29, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.