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 new February record

Yeah, so February, just when it was looking like you'd be typically wintry... you, too, have gone all weird on us. Thursday's high temperature at... (more)

Progressive, warm, vibrant Jewish congregations?

AH writes that her family is looking ahead to a move to Albany: So I'd love to hear any suggestions of progressive, warm, and vibrant... (more)

Fair Share 4 Albany

The push for the city of Albany to get that additional $12.5 million from the state continues... The Sheehan administration, backed by the city's state... (more)

"Let's just throw up some cones and see what happens for a week"

Some food for thought as the Capital Region continues to look toward expanding bus rapid transit: A city adjacent to Boston lacked a rapid transit... (more)

Brew goes Pint Sized, plans second location (and a tiny bar)

Changes are coming to Brew, the popular beer/coffee shop on Lark Street. Owner August Rosa says he's changing the name to Pint Sized. And he's... (more)

Recent Comments

If you've never checked out a Friends meeting (Quakers), I recommend giving it a go. I'm Jewish, but have been sporadically attending Friends meetings for several years. We sit in silence. There's no pastor. The idea is that G-d is within all of us, and if someone's truly and deeply compelled to speak, they share their message. Sometimes it's a full hour of silence and then at the end of the meeting we share joys and sorrows and community updates and you realize that the people sitting silently beside you are some of the most engaged, empathetic, and fair-minded activists around.

How we all ended up talking about a gondola between downtown Albany and the train station

...has 15 comments, most recently from Sandy Johnston

A progressive, friendly, diverse church?

...has 12 comments, most recently from JayK

Examining the forces and maps that redlined the city of Albany

...has 19 comments, most recently from JayK

Brew goes Pint Sized, plans second location (and a tiny bar)

...has 1 comment, most recently from JayK

The untaxed city within the city

...has 36 comments, most recently from JayK