ALBANY — Unemployment in the Capital District is down nearly 2 percent from last year at this time according to the New York state Department of Labor.
The Department of Labor released preliminary local area unemployment rates last week for November 2021. In its monthly report, it stated unemployment decreased from 5.1 percent in November 2020 to 3.2 percent last month.
Rates for the Albany-Schenectady-Troy cohort are lower compared to averages across New York. For metropolitan areas across the state, the average unemployment rate is 5.6 percent. Last year, New Yorkers in metropolitan areas were unemployed at a rate of 8.5 percent.
New York City continues to suffer the highest rate of unemployment. Last year the city reported an unemployment rate of 11.7 percent. Last month, it registered a rate of 8 percent.
Rates are calculated using methods prescribed by the U.S. Bureau of Labor Statistics. The state’s area unemployment rates rely in part on the results of the Current Population Survey, which contacts approximately 3,100 households in New York each month.
To recap last week’s statewide press release, New York State’s seasonally adjusted unemployment rate decreased from 6.9 percent in October to 6.6 percent in November 2021.
The data in the preceding table are not seasonally adjusted, which means they reflect seasonal influences (e.g., holiday and summer hires). Therefore, the most valid comparisons with this type of data are year-to-year comparisons of the same month, for example, November 2020 versus November 2021.
Labor force data for the current month are preliminary and subject to revision as more information becomes available the following month. Revised estimates for prior months are available at: https://statistics.labor.ny.gov/lslaus.shtm
Labor force statistics, including the unemployment rate, for New York and every other state are based on statistical regression models specified by the U.S. Bureau of Labor Statistics. These are the most up-todate estimates of persons employed and unemployed by place of residence.
Estimates are available for New York State, labor market regions, metropolitan areas, counties and municipalities with population of at least 25,000.
