Labor Market Overview

Albany-Schenectady-Troy MSA
November 2017

prepared by:
James H. Ross
Labor Market Analyst
Available online at www.labor.state.ny.us/stats/cap/albany.pdf
 NONAGRICULTURAL WAGE AND SALARY JOBS
ALBANY-SCHENECTADY-TROY MSA,
November 1990-November 2017
480
470
Jobs (In Thousands)

460
450
440
430
420
410
400
390
380
90

92

94

96

98

00

02

04

06

08

10

12

14

16
19

19

19

19

19

20

20

20

20

20

20

20

20

20
MONTHLY JOB COUNTS
ALBANY - SCHENECTADY - TROY MSA, 2014 - 2017
480
470
Jobs (In Thousands)

460
450
440
430
420
410
400
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Month
2014 2015 2016 2017

2
 Percent

0.0%
1.0%
2.0%
3.0%

-4.0%
-3.0%
-2.0%
-1.0%
Jan 2000
Apr
July
Oct
Jan 2001
Apr
Jul
Oct
Jan 2002
Apr
Jul
Oct
Jan 2003
Apr
Jul
Oct
Jan 2004
Apr
Jul
Oct
Jan 2005
Apr
Jul
Oct
Jan 2006
Apr
Jul
Oct
Jan 2007
Apr
July
Oct
Jan 2008

3
Apr
July
Oct
Jan 2009
Apr
July
Oct
Jan 2010
Apr
July

Note: Based on year-to-year change

Oct
Jan 2011
Apr
Jul
RATE OF GROWTH IN JOBS

Oct
Jan 2012
Apr
July
Oct
Jan 2013
Apr
July
Oct
Jan 2014
Apr
July
Oct
Jan 2015
Apr
July
ALBANY - SCHENECTADY - TROY MSA, January 2000 -November 2017

Oct
Jan 2016
Apr
July
Oct
Jan 2017
Apr
July
Oct
 NONAGRICULTURAL EMPLOYMENT BY SUPER-SECTOR
ALBANY-SCHENECTADY-TROY MSA, November 2017

Industry Super-sector
Const/Nat. Manufacturing
Resources & Mining 6%
4% Trade, Transportation, &
Utilities
16%

Information
Government
2%
21%
Financial Activities
6%

Professional & Business

Other Svcs Svcs.
4% 12%

Leisure & Hospitality

9%
Education & Health Svcs.
20%

4
 NET CHANGE IN JOB COUNTS BY SUPER-SECTOR
ALBANY - SCHENECTADY - TROY MSA, November 2016 - November 2017

2500

2000
Net Chamge in Jobs

1500
1000
500

0
-500

-1000
-1500
Const. & Mfg. Trade, Info. Fin. Act. Prof. & Bus. Ed. & Health Leisure & Other Svcs. Govt.
Nat. Res. Trans. & Svcs. Svcs Hosp.
Util.

Industry Super-sector

PERCENT CHANGE IN JOB COUNTS BY SUPER-SECTOR

ALBANY - SCHENECTADY - TROY MSA, November 2007 - November 2017

30%
25.8%
19.8%
20%
14.3%
Percent Change

10%
5.2% 1.9% 2.2%
1.1%
0%
-1.9%
-4.6%
-10%
-11.3%

-20%
Const. & Mfg. Trade, Info. Fin. Act. Prof. & Bus. Ed. & Health Leisure & Other Svcs. Govt.
Nat. Res. Trans. & Svcs. Svcs Hosp.
Util.

Industry Super-sector

5
6
 EMPLOYMENT IN NONAGRICULTURAL ESTABLISHMENTS, BY PLACE OF WORK
ALBANY-SCHENECTADY-TROY AREA
(In thousands, not seasonally adjusted)
Industry November October November Net Pct Net Pct
2017 2017 2016 Month Month Year Year

Total Nonfarm 475.5 472.3 472.4 3.2 0.7% 3.1 0.7%

Total Private 370.8 367.9 368.2 2.9 0.8% 2.6 0.7%
Goods Producing 46.5 46.7 46.2 -0.2 -0.4% 0.3 0.6%
Natural Resources, Mining and Construction 20.2 20.6 20.0 -0.4 -1.9% 0.2 1.0%
Manufacturing 26.3 26.1 26.2 0.2 0.8% 0.1 0.4%
Service Providing 429.0 425.6 426.2 3.4 0.8% 2.8 0.7%
Private Service Providing 324.3 321.2 322.0 3.1 1.0% 2.3 0.7%
Trade, Transportation, and Utilities 77.9 76.0 78.4 1.9 2.5% -0.5 -0.6%
Wholesale Trade 13.8 13.8 13.8 0.0 0.0% 0.0 0.0%
Retail Trade 50.1 48.2 50.7 1.9 3.9% -0.6 -1.2%
Food and Beverage Stores 10.9 10.9 11.2 0.0 0.0% -0.3 -2.7%
General Merchandise Stores 9.5 9.0 9.6 0.5 5.6% -0.1 -1.0%
Transportation, Warehousing, and Utilities 14.0 14.0 13.9 0.0 0.0% 0.1 0.7%
Transportation and Warehousing 12.3 12.3 12.2 0.0 0.0% 0.1 0.8%
Information 8.6 8.6 8.6 0.0 0.0% 0.0 0.0%
Telecommunications 3.0 3.1 3.1 -0.1 -3.2% -0.1 -3.2%
Financial Activities 26.4 26.5 26.1 -0.1 -0.4% 0.3 1.1%
Professional and Business Services 54.9 54.4 55.9 0.5 0.9% -1.0 -1.8%
Professional, Scientific, and Technical Services 30.3 29.9 30.8 0.4 1.3% -0.5 -1.6%
Management of Companies and Enterprises 6.6 6.6 6.9 0.0 0.0% -0.3 -4.3%
Admin. & Supp. and Waste Manage. & Remed. Servs. 18.0 17.9 18.2 0.1 0.6% -0.2 -1.1%
Education and Health Services 96.2 95.3 95.0 0.9 0.9% 1.2 1.3%
Educational Services 30.2 29.9 30.0 0.3 1.0% 0.2 0.7%
Health Care and Social Assistance 66.0 65.4 65.0 0.6 0.9% 1.0 1.5%
Ambulatory Health Care Services 20.5 20.4 20.1 0.1 0.5% 0.4 2.0%
Hospitals 19.5 19.3 18.9 0.2 1.0% 0.6 3.2%
Leisure and Hospitality 41.5 41.6 39.3 -0.1 -0.2% 2.2 5.6%
Accommodation and Food Services 36.1 36.0 33.8 0.1 0.3% 2.3 6.8%
Other Services 18.8 18.8 18.7 0.0 0.0% 0.1 0.5%
Government 104.7 104.4 104.2 0.3 0.3% 0.5 0.5%
Federal Government 6.5 6.5 6.5 0.0 0.0% 0.0 0.0%
Federal Government Hospitals 1.5 1.5 1.5 0.0 0.0% 0.0 0.0%
State Government 51.7 51.7 51.3 0.0 0.0% 0.4 0.8%
State Government Education 7.1 7.0 7.0 0.1 1.4% 0.1 1.4%
State Government Hospitals 0.7 0.7 0.7 0.0 0.0% 0.0 0.0%
Local Government 46.5 46.2 46.4 0.3 0.6% 0.1 0.2%
Local Government Education 29.4 29.1 29.0 0.3 1.0% 0.4 1.4%

7
 UNEMPLOYMENT RATE
ALBANY-SCHENECTADY-TROY MSA,
November 1990 – November 2017

10.0%
9.0%

8.0%
7.0%
6.0%
Rate

5.0%
4.0%
3.0%
2.0%
1.0%
0.0%
90

92

94

96

98

00

02

04

06

08

10

12

14

16
19

19

19

19

19

20

20

20

20

20

20

20

20

20
RESIDENT CIVILIAN UNEMPLOYMENT RATE - NOVEMBER 2017
United States, New York State & Albany-Schenectady-Troy MSA By County

8%

6%
4.6% 4.8%
4.5% 4.3% 4.2% 4.4%
3.9% 4.0%
Rate

4%

2%

0%
USA NYS A-S-T Albany Renss Sara Sch'dy Scho

8
 Employed, Unemployed, and Rate of Unemployment
By Place of Residence
For New York State and Major Labor Areas, November 2017
(Numbers in thousands, not seasonally adjusted)

EMPLOYED UNEMPLOYED UNEMPLOYMENT RATE (%)

AREA/COUNTY Nov. Nov. Net Nov. Nov. Net Nov. Nov. Net
2017 2016 Change 2017 2016 Change 2017 2016 Change

United States 154,180 152,385 +1,795 6,286 7,066 -780 3.9 4.4 -0.5
New York State 9,213.2 9,068.0 +145.2 431.6 428.3 +3.3 4.5 4.5 0.0

Albany-Schenectady-Troy 429.2 427.0 +2.1 19.2 16.9 +2.3 4.3 3.8 +0.5
Albany 152.0 151.4 +0.6 6.7 5.9 +0.8 4.2 3.8 +0.4
Rensselaer 78.1 77.7 +0.4 3.6 3.2 +0.4 4.4 3.9 +0.5
Saratoga 112.6 112.0 +0.6 4.7 4.1 +0.6 4.0 3.5 +0.5
Schenectady 72.4 72.1 +0.3 3.5 3.0 +0.5 4.6 4.0 +0.6
Schoharie 14.1 13.8 +0.2 0.7 0.7 0.0 4.8 4.7 +0.1
Binghamton 102.8 102.8 -0.1 5.9 5.3 +0.6 5.4 4.9 +0.5
Broome 80.8 80.9 -0.1 4.7 4.2 +0.5 5.5 5.0 +0.5
Tioga 22.0 21.9 +0.1 1.2 1.1 +0.1 5.0 4.6 +0.4
Buffalo-Niagara Falls 514.9 515.0 -0.1 29.1 26.3 +2.7 5.3 4.9 +0.4
Erie 420.7 420.9 -0.2 23.0 20.9 +2.1 5.2 4.7 +0.5
Niagara 94.3 94.1 +0.2 6.1 5.5 +0.6 6.1 5.5 +0.6
Dutchess-Putnam 186.3 182.9 +3.4 8.4 7.5 +1.0 4.3 3.9 +0.4
Dutchess 137.7 135.1 +2.6 6.2 5.5 +0.7 4.3 3.9 +0.4
Putnam 48.6 47.8 +0.8 2.2 1.9 +0.3 4.3 3.8 +0.5
Elmira (Chemung) 33.5 34.1 -0.6 2.0 1.9 +0.1 5.5 5.2 +0.3
Glens Falls 57.0 56.4 +0.6 3.1 2.9 +0.2 5.2 4.9 +0.3
Warren 29.9 29.7 +0.1 1.8 1.7 +0.1 5.8 5.4 +0.4
Washington 27.1 26.6 +0.5 1.3 1.2 +0.1 4.6 4.4 +0.2
Ithaca (Tompkins) 49.7 48.5 +1.2 2.3 1.9 +0.3 4.3 3.8 +0.5
Kingston (Ulster) 84.9 83.8 +1.1 4.0 3.6 +0.4 4.5 4.1 +0.4
Nassau-Suffolk 1,407.0 1,406.2 +0.8 65.1 57.6 +7.5 4.4 3.9 +0.5
Nassau 667.3 667.5 -0.1 29.5 25.8 +3.7 4.2 3.7 +0.5
Suffolk 739.7 738.7 +0.9 35.6 31.8 +3.8 4.6 4.1 +0.5
New York City 4,036.5 3,921.2 +115.3 169.1 194.9 -25.8 4.0 4.7 -0.7
Bronx 582.8 565.5 +17.2 34.7 39.5 -4.8 5.6 6.5 -0.9
Kings 1,191.0 1,157.3 +33.6 50.8 58.7 -7.9 4.1 4.8 -0.7
New York 901.8 876.5 +25.2 33.4 38.3 -4.9 3.6 4.2 -0.6
Queens 1,145.5 1,112.6 +32.9 41.2 48.0 -6.8 3.5 4.1 -0.6
Richmond 215.5 209.1 +6.4 9.0 10.4 -1.4 4.0 4.7 -0.7
Orange-Rockland-Westchester 777.1 768.8 +8.3 37.3 32.6 +4.7 4.6 4.1 +0.5
Orange 171.5 168.9 +2.6 8.3 7.2 +1.1 4.6 4.1 +0.5
Rockland 146.2 144.7 +1.5 6.8 6.0 +0.8 4.5 4.0 +0.5
Westchester 459.3 455.1 +4.2 22.1 19.3 +2.8 4.6 4.1 +0.5
Rochester 491.4 493.1 -1.7 26.1 23.1 +3.0 5.1 4.5 +0.6
Livingston 29.5 29.3 +0.2 1.5 1.4 +0.2 5.0 4.5 +0.5
Monroe 340.2 342.8 -2.6 18.4 16.1 +2.3 5.1 4.5 +0.6
Ontario 51.8 51.9 -0.1 2.5 2.2 +0.3 4.6 4.1 +0.5
Orleans 16.8 16.6 +0.2 1.1 0.9 +0.2 5.9 5.1 +0.8
Wayne 41.8 41.5 +0.3 2.2 2.0 +0.1 4.9 4.7 +0.2
Yates 11.4 11.1 +0.3 0.5 0.5 0.0 4.5 4.3 +0.2
Syracuse 293.2 289.3 +3.9 15.7 14.1 +1.6 5.1 4.6 +0.5
Madison 31.4 30.7 +0.7 1.8 1.6 +0.2 5.3 4.9 +0.4
Onondaga 211.5 209.0 +2.5 10.5 9.3 +1.2 4.7 4.3 +0.4
Oswego 50.3 49.6 +0.7 3.4 3.2 +0.3 6.4 6.0 +0.4
Utica-Rome 122.6 121.2 +1.4 6.9 6.0 +0.9 5.3 4.7 +0.6
Herkimer 26.6 26.2 +0.4 1.6 1.4 +0.2 5.7 5.2 +0.5
Oneida 96.0 95.0 +1.0 5.3 4.5 +0.7 5.2 4.6 +0.6

Watertown-Fort Drum (Jefferson) 42.8 42.0 +0.8 3.1 2.8 +0.3 6.8 6.3 +0.5

9
 Employed, Unemployed, and Rate of Unemployment
By Place of Residence
For Counties Not Within Major Labor Areas, November 2017
(Numbers in thousands, not seasonally adjusted)

EMPLOYED UNEMPLOYED UNEMPLOYMENT RATE (%)

AREA/COUNTY Nov. Nov. Net Nov. Nov. Net Nov. Nov. Net
2017 2016 Change 2017 2016 Change 2017 2016 Change

Allegany 19.1 18.9 +0.2 1.3 1.2 +0.2 6.5 5.8 +0.7
Cattaraugus 32.9 32.7 +0.2 2.2 2.0 +0.2 6.1 5.6 +0.5
Cayuga 34.5 34.2 +0.3 1.8 1.6 +0.1 4.9 4.6 +0.3

Chautauqua 51.8 51.8 0.0 3.4 3.2 +0.2 6.1 5.8 +0.3
Chenango 21.5 21.2 +0.3 1.2 1.1 +0.1 5.4 4.9 +0.5
Clinton 34.1 33.5 +0.6 1.8 1.8 0.0 5.0 5.0 0.0

Columbia 30.7 29.9 +0.8 1.1 1.1 +0.1 3.6 3.5 +0.1
Cortland 22.1 21.8 +0.3 1.4 1.2 +0.1 5.9 5.4 +0.5
Delaware 18.1 17.9 +0.2 1.0 0.9 +0.1 5.3 5.0 +0.3

Essex 15.7 15.5 +0.2 1.0 0.9 +0.1 5.9 5.3 +0.6
Franklin 18.6 18.3 +0.3 1.2 1.0 +0.2 6.1 5.3 +0.8
Fulton 21.8 21.9 -0.1 1.4 1.2 +0.2 6.0 5.2 +0.8

Genesee 28.1 27.7 +0.4 1.5 1.3 +0.2 5.1 4.5 +0.6
Greene 19.5 18.9 +0.6 1.1 1.0 +0.2 5.4 4.8 +0.6
Hamilton 2.0 2.0 0.0 0.2 0.2 0.0 9.9 8.9 +1.0

Lewis 11.1 10.7 +0.4 0.7 0.7 0.0 5.9 6.1 -0.2
Montgomery 21.7 21.4 +0.3 1.3 1.1 +0.1 5.5 5.0 +0.5
Otsego 26.4 26.4 0.0 1.4 1.2 +0.2 5.0 4.4 +0.6

St. Lawrence 40.8 40.2 +0.5 2.8 2.6 +0.2 6.4 6.0 +0.4
Schuyler 7.9 7.7 +0.2 0.5 0.5 +0.1 6.2 5.7 +0.5
Seneca 15.7 14.5 +1.1 0.7 0.7 +0.1 4.4 4.4 0.0

Steuben 40.5 40.2 +0.3 2.6 2.3 +0.3 5.9 5.3 +0.6
Sullivan 32.8 32.0 +0.9 1.8 1.5 +0.3 5.2 4.6 +0.6
Wyoming 17.2 16.7 +0.6 1.0 0.9 +0.1 5.7 5.2 +0.5

10
 FACT SHEET
This fact sheet conveys important technical information that will
contribute to a better understanding of resident labor force, including
unemployment rates, and job data included in this and future press releases.

State unemployment rates based on regression model

Unemployment rates for New York State and all other states (as well as
New York City and the City of Los Angeles) are estimated using time-series
regression models developed by the U.S. Bureau of Labor Statistics. The model
reduces month-to-month variation in labor force data by reducing variation
caused by sampling errors and other statistical noise (irregularities).

Benchmarking of estimates
At the end of each year, labor force data are revised to reflect
updated input data including new Census population controls, revised
establishment jobs data, and revised state-level data from the Current
Population Survey (CPS). As part of this procedure, all state figures are
reviewed, revised as necessary, and then re-estimated. This process is
commonly referred to as "benchmarking."

Changes in methodology
With the release of January 2005 data, a new time-series regression
model that utilizes "real-time" benchmarking is in effect. The redesigned
model should reduce end-of-year revisions as major economic events will be
reflected in a more timely manner. The new model also changes how estimates of
new entrants or re-entrants into the labor force are made for sub-state areas,
which may result in higher or lower unemployment rates in some sub-state
areas. Also effective with the release of January 2005 data are updated metro
area definitions. Please see http://www.labor.state.ny.us/pdf/enys1104.pdf for
additional details.

Unemployed and UI Beneficiaries

The estimate of the number of unemployed includes all persons who had
no employment during the reference week (the week including the 12th of the
month), were available for work, except for temporary illness, and had made
specific efforts to find employment sometime during the 4-week period ending
with the reference week. Unemployment insurance (UI) beneficiaries include
those who apply for and qualify for UI benefits. Consequently, the estimate of
the number of unemployed and the number of UI beneficiaries do not necessarily
move in tandem. Persons collecting UI benefits generally make up from 35 to 50
percent of the unemployed.

Job data
Monthly job data are obtained from the Current Employment Statistics
survey of business establishments, which samples 18,000 establishments in New
York State. The survey excludes self-employed workers, agricultural workers,
unpaid family workers and domestic workers employed by private households.
The data represent a count of jobs by place of work. Estimates for each month
are revised the following month, as well as at the end of each year, as more
complete data become available.

Press release availability

In an effort to distribute information faster and more reliably and to
reduce shipping costs, the New York State Department of Labor's monthly press
release is available exclusively online at: http://www.labor.state.ny.us.

11