Overall unemployment rate stayed flat at 3.7% with the biggest shift in Education & Healthcare, which gained 38,300 roles, based on the most recently available information published in December 2022.
Total employment in the New York-Newark-Jersey City, NY-NJ-PA market rose by 88,360 jobs in October and the unemployment rate stayed flat. The national unemployment rate increased by 8 bps over the same time to 3.4%.
- New York-Newark-Jersey City, NY-NJ-PA unemployment rate is 30 bps above the national rate which is a negative sign.
- Unemployment in the market is 200 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in October versus prior month by 2.7% 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: 2,108,200; +38,300
- Transportation & Utilities: 1,679,600; +16,200
- Business Services: 1,647,900; +12,500
- Government: 1,312,800; +18,200
- Restaurants & Hotels: 881,700; -5,100
- Financial Services: 782,600; -900
- Other Jobs: 406,300; +4,200
- Construction, Mining: 402,900; +2,500
- Manufacturing: 342,400; +700
- IT & Development: 332,500; +900
Data is based on the most recent 12 months available, through October 2022 (Data published December 2022 and reports created on December 2, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.