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What you need to know for 02/27/2017

Area jobless rate drops in May

Area jobless rate drops in May

The Capital Region gained 1,600 jobs in May and saw its unemployment rate fall a full percentage poi

The Capital Region gained 1,600 jobs in May and saw its unemployment rate fall a full percentage point to 6.4 percent over the past year.

The region’s unemployment rate was 6.5 percent in April.

New York state added 104,200 private-sector jobs over the same period, with 5,000 added in May, according to preliminary data released today by the state Labor Department. The statewide unemployment rate fell from 7.8 percent in April to 7.6 percent in May, its lowest level since February 2009.

Statewide, the industry to gain the most jobs over the last year was professional and business services, followed by leisure and hospitality. Additionally, the government lost the most jobs. Manufacturing was hit with job losses in the durable goods, computer and electronic product sectors.

Saratoga County tied with Putnam County for the second-lowest unemployment rate in the state last month at 5.8 percent.

In Albany County, the May unemployment rate was 6.4 percent, down from 6.5 percent the month before and 7.4 percent one year earlier.

In Schenectady County, the unemployment rate increased from 6.8 percent in April to 7 percent in May, but was still down from 7.9 percent last May.

In Schoharie County, the unemployment rate fell a full point, from 9 percent in April to 8 percent in May. This was down from 8.6 percent in May 2012.

In Montgomery County, the unemployment rate fell from 9.4 percent in April to 8.7 percent in May, down from 10.2 percent last May.

Fulton County had the region’s highest unemployment rate last month at 8.9 percent. This was a decrease from 9.5 percent in April and 10.5 percent in May 2012.

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