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

A look at the plan for new bus and pedestrian amenities at Lark and Washington in Albany

The spot where Washington Ave, Central Ave, and Lark Street run together in Albany is one of the city's busier intersections -- and not just... (more)

WHAT? (airplane flies overhead)

That image above is clipped from a new map produced by the federal government that attempts to model road and airplane noise around the country.... (more)

Coffee school at Superior Merchandise

Superior Merchandise Co. in Troy is bringing back its series of "coffee school" classes for a spring season. Blurbage: "Over the past 20 months of... (more)

Traditional trades

This area has a lot of historic buildings. There's a lot of demand for restoring these historic buildings. There just aren't a lot of people... (more)

Hudson Valley Hops 2017

The Hudson Valley Hops event is back at the Albany Institute April 8. Tickets are $35 ahead and available online. The annual event celebrates the... (more)

Recent Comments

I was very negative about the road diet when it was announced but I really love it and am excited to see it continue all the way to Lark. I eat my words!

Looking along the old lane

...has 4 comments, most recently from Ellen

Public meeting for second phase of Madison Ave Road Diet in Albany

...has 12 comments, most recently from daleyplanit

The Capital Region is growing very slowly -- which is better than many other parts of the state

...has 4 comments, most recently from Mike

John Mulaney at The Egg -- now at The Palace

...has 1 comment, most recently from andrew

Updates: 3Fish Coffee, 288 Lark Street

...has 4 comments, most recently from Blergh