Overall unemployment rate moved up to 3.9% with the biggest shift in Government, which lost 400 roles, based on the most recently available information published in August 2022.
Total employment in the Watertown-Fort Drum, NY market declined by 157 jobs in July and the unemployment rate increased compared to the prior month by 50 bps to 3.9%. The national unemployment rate decreased by 5 bps over the same time to 3.8%.
- Watertown-Fort Drum, NY unemployment rate is 12 bps above the national rate which is a negative sign.
- Unemployment in the market is 110 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in July versus prior month by 0.7% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -1.0%. Key sectors include:
- Government: 11,200; -400
- Transportation & Utilities: 8,100; -300
- Education & Healthcare: 6,600; no change
- Restaurants & Hotels: 5,700; +200
- Business Services: 2,400; +100
- Manufacturing: 1,900; no change
- Construction, Mining: 1,800; no change
- Other Jobs: 1,800; no change
- Financial Services: 1,400; no change
- IT & Development: 500; no change
Data is based on the most recent 12 months available, through July 2022 (Data published August 2022 and reports created on September 2, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.