cap region unemployment 10yr 2009-11

Sideways

cap region unemployment

The Capital Region's unemployment rate since the start of the recession.

The Capital Region's unemployment rate was 7 percent in October, according to NYS Department of Labor data released today. That's up from 4.9 percent during the same period last year. It's basically unchanged from last month.

The labor department reports that the number of nonfarm jobs has decreased by 12,100 (2.7 percent) and the number of private sector jobs has decreased by 9,200 (2.7 percent) in the region over the last year.

The Capital Region is still doing better than both the state and country as a whole. The overall unemployment rate for New York State was 9 percent in October (8 percent everywhere except NYC) and 10.2 percent for the US.

We've updated our 10-year graph of Capital Region unemployment -- it really gives you perspective on how unusual the current labor market is.

The federal government reported last month that the national economy has begun growing again (well, GDP has).

Job growth often lags GDP growth, though. During the last national recession, the Capital Region's unemployment rate didn't start falling until three months after the recession ended. The state labor department reported that NYS lost 15,300 non-farm jobs last month.

Big chart notes: 10 year data from the federal Bureau of Labor Statistics -- except for this year's data, which is from NYS DOL. Recession data from NBER. The figures were not seasonally adjusted.

Comments

Glad I got a job here (science) in April 2008. And to think, I was hoping the job market would improve back in 2001.

> Job growth often lags GDP growth

Often? It always does, practically has to, and usually lags by years. Why use MSM-speak? Why not speak plainly?

LQ

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

Capital Region high school graduation rates 2014

The state Department of Education released its annual collection of data about high school graduation rates around the state on Thursday. The statewide graduation rate... (more)

Holiday gifts: Daniel B.

Gifts and giving are on most everyone's mind this month. So we thought we'd ask a few people to share some thoughts on presents, past... (more)

Warmth with flair

Historical object gawking: We came across this photo of a 19th century stove in the Albany Institute collection. It was made by a Troy company... (more)

Crisp Cannoli storefront closing

The Crisp Cannoli in East Greenbush -- you know, the bakery that makes croissant donuts, including an apple cider version -- is closing its storefront... (more)

Local food gifts

We're into the stretch run for December holidays, so we asked Deanna for a few stocking stuffer-type local food gift ideas. Stockings are my favorite... (more)

Recent Comments

... I tend to ask questions that make the person think about what they just said. I ask it sweetly and in a tone that notes confusion on my part. I have been called honey in the office and asked the person, " Can I ask what you mean when you call me honey? Because you don't call John honey." It calls out that he's treating you differently for being a woman. If he still doesn't get it, you can be more direct: "I appreciate that you respect my work and treat me equally, but I wouldn't want others to think otherwise based on how you address me."

Fracking to be banned in New York

...has 3 comments, most recently from Mike

Holiday gifts: Erin Pihlaja

...has 1 comment, most recently from Jennifer

New Amsterdam State

...has 5 comments, most recently from Ellen

Local food gifts

...has 3 comments, most recently from Ellen

Where to get latkes?

...has 10 comments, most recently from E