capital region unemployment 10yrs

Yep, the job picture is not good right now

capital region unemployment 2yr

The last two years. (Data from NYS Dept of Labor)

The state Department of Labor released unemployment figures today -- and they were not good. "Flabbergasted" was the word used by the state labor commissioner.

The unemployment rate in the Albany-Schenectady-Troy metropolitan area was 7.1 percent in January. That's up from 5.9 percent in December and 5.1 percent last January.

The numbers appear a little worse than they might otherwise look because the labor department includes Schoharie County in the Capital Region's metro area -- and Schoharie's unemployment rate was 11.3 percent in January. The other counties were all between 6.7 (Albany and Saratoga) and 7.6 (Rensselaer).

Statewide, the unemployment rate was 7 percent. Nationally, it was 7.6 percent.

For some perspective, we've put together a 10 year chart of Capital Region unemployment. It really shows how far outside "normal" we are right now.

Big chart notes: 10 year data from the federal Bureau of Labor Statistics -- except for the last two months listed. That data is from the NY Department of Labor. Recession data from NBER. Data was not seasonally adjusted.

Comments

Can someone please explain how unemployment rates are calculated? Is it simply counting the new lot of people who have filed for benefits? And when those benefits run out, but haven't found a job, do you roll right off the list?

Abby, no, the unemployment rate includes everybody who doesn't have a job and is looking for one, whether or not they're taking any benefits. It's generally a statistical survey, taken from a sample size.

Actually, I believe abby's correct on this one. Once your benefits run out, the government stops counting you. The unemployment numbers also don't take into account chronically underemployed folks.

There is a very good explanation of how it is measured on the Bureau of Labor Statistics web site. You can access it by following this link: http://tinyurl.com/hr32e

Say Something!

We'd really like you to take part in the conversation here at All Over Albany. But we do have a few rules here. Don't worry, they're easy. The first: be kind. The second: treat everyone else with the same respect you'd like to see in return. Cool? Great, post away. Comments are moderated so it might take a little while for your comment to show up. Thanks for being patient.

The Scoop

Ever wish you had a smart, savvy friend with the inside line on what's happening around the Capital Region? You know, the kind of stuff that makes your life just a little bit better? Yeah, we do, too. That's why we created All Over Albany. Find out more.

Recently on All Over Albany

Fast break

Because time lapse: Here's a video of the Times Union center changing over from hockey rink to basketball court between the Albany Devils game Saturday... (more)

The legend continues

Jimmer Fredette -- the "Loneliness Master" -- scored 73 points for the Shanghai Sharks in a double overtime loss this past weekend to the Zhejiang... (more)

518 Songfest 2017

The 518 Songfest returns to The Egg April 1. The headliner is Sawyer Fredericks, of American Idol The Voice fame. Also on the card: Girl... (more)

A front page flight

Maybe you've seen that video that's been bouncing around online today of every New York Times front page since 1852 -- in 55 seconds. There's... (more)

"The drive for citizenship and the drive for a permanent home is a pretty powerful drive"

The New York Times has a look at how refugee populations have bolstered cities along the old Erie Canal corridor in recent years, re-occupying vacant... (more)

Recent Comments

Much of Albany is still unofficially redlined. Arbor Hill, West Hill, parts of the South End in particular are. While official redlining is now illegal, prospective property buyers in, for example, Arbor Hill must deal with a lot more impediments when they seek to purchase property. Banks and insurance companies may force them to pay extra fees with extra paperwork. They may require a bigger downpayment, a higher interest rate, a higher credit score, and even additional cosigners even if the buyer has significant income. It's depressing the market in those areas significantly.

"You're saving a piece of history that cannot be remade."

...has 1 comment, most recently from jsc

The untaxed city within the city

...has 24 comments, most recently from JayK

A progressive, friendly, diverse church?

...has 3 comments, most recently from T

518 Songfest 2017

...has 1 comment, most recently from John

Examining the forces and maps that redlined the city of Albany

...has 14 comments, most recently from Justin