Buffalo Unemployment Rate At Historic Low
More than 3 years after a global health pandemic all but shut down the American economy and sent unemployment rates into the double digits, we're seeing unemployment rates drop to record lows all over the country and the rate of people participating in the economy growing as well.
Those increases have companies many areas, including Buffalo and Western New York, scrambling to find new workers to fill vacancies as they have adjusted to the new post-pandemic America.
How Is New York State Doing Overall?
When compared to all 50 States and the District of Columbia, New York State is doing better than everywhere else in the country.
While some areas of New York are doing better than others, even the worse parts of New York labor market are doing better than the any other state.
WalletHub crunched a bunch of data from the US Bureau of Labor Statistics and found that Alaska, Colorado, Georgia, New Mexico, and Montana are among the hardest places for employers to find workers.
What Is The Unemployment Rate In Buffalo?
According to data made available by the United States Bureau of Labor Statistics, Buffalo's employment scene is doing very well when compared to the rest of the nation.
In fact, so well that it's near the top in the entire Empire State, and sits at a record 3.4%; the lowest it has ever been in history.
The Buffalo News dug deeper into the data and found that Buffalo is tied with Elmira as second among the metropolitan areas with the lowest unemployment rates. Ithaca has the lowest rate in the state, while New York City tops the list with the highest percentage of people out of work.
There are more than 10,000 more people working today than in this same period 2-years ago.