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Capital Region jobless rate drops to 3.7% in August

Capital Region jobless rate drops to 3.7% in August

Area jobless rate among lowest in state
Capital Region jobless rate drops to 3.7% in August
Photographer: Shutterstock

CAPITAL REGION — The Capital Region unemployment rate reached 3.7 percent in August, down from 3.9 percent a month earlier and 4.5 percent in August 2017.

Glens Falls was again lowest among the state’s metropolitan statistical areas in August, at 3.5 percent, but none of the MSAs fared too badly: The highest jobless rates, in Binghamton and Watertown, were only 4.6 percent.

Dutchess-Putnam in the Hudson Valley and Ithaca tied with the Capital Region at 3.7 percent.

Among individual counties, Columbia was lowest at 3.1 percent and Bronx was highest at 5.9 percent.

The numbers are estimates and are not seasonally adjusted.

Within the Capital Region the largest employment sectors are:

  • Government 21%
  • Education/health services 20%
  • Trade/transportation 16%
  • Professional/business services 12%

The total nonfarm job count in the Albany-Schenectady-Troy MSA dropped a scant 200 jobs over the year, from 465,800 in August 2017 to 465,600 in August 2018.

UNEMPLOYMENT NUMBERS

The jobless rate in every county in the greater Capital Region was significantly lower in August 2018 than August 2017. Here are the individual rates for 2018 and 2017, as estimated by the state Department of Labor:

  • Albany 3.8 4.4
  • Fulton 4.5 5.5
  • Montgomery 4.7 5.5
  • Rensselaer 3.9 4.5
  • Saratoga 3.3 3.9
  • Schenectady 3.9 4.5
  • Schoharie 4.3 5.0
  • New York state 4.1 4.9
  • United States 3.9 4.5
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