Overall unemployment rate moved down to 3.2% with the biggest shift in Restaurants & Hotels, which lost 600 roles, based on the most recently available information published in November 2022.
Total employment in the Watertown-Fort Drum, NY market declined by 312 jobs in September and the unemployment rate decreased compared to the prior month by 80 bps to 3.2%. The national unemployment rate decreased by 47 bps over the same time to 3.3%.
- Watertown-Fort Drum, NY unemployment rate is 12 bps below the national rate which is a positive 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) declined in September versus prior month by -0.5% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -1.3%. Key sectors include:
- Government: 11,300; +100
- Transportation & Utilities: 8,200; no change
- Education & Healthcare: 6,700; +100
- Restaurants & Hotels: 5,300; -600
Data is based on the most recent 12 months available, through September 2022 (Data published November 2022 and reports created on November 2, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.