Niagara Gazette

November 17, 2012

Local job market job loss trend continues

Niagara Gazette

Niagara Gazette —

For the third straight month, the Buffalo Niagara Falls area job market is sputtering.

The New York State Labor Department reported this week the area is down 100 jobs over the past 12 months. However, Buffalo Niagara Falls is up about 5,000 jobs when compared to the previous month, the October job report said.

The three-month streak of job losses is the region’s longest in more than two years.

But, as a whole, New York state fared better in October. The state's economy added 5,900 private sector jobs in October, the labor department reported. Also, the unemployment rate fell in October by to 8.7 percent, as the number of unemployed in the state declined by 17,500 to 830,600.

"New York’s private sector continued to add jobs, both the statewide and New York City unemployment rates fell from the previous month and the number of unemployed in the state declined," said Bohdan M. Wynnyk, deputy director of the Division of Research and Statistics. "The private sector job count grew by 5,900 to 7,340,100, reaching an all-time high for the state."

Overall, the state added 135,300 jobs over the past 12 months, a 1.5 percent increase. Nationally, the U.S. added 1.9 million, a 1.4 percent increase, over the same time period.

Professional and business services added the most jobs in New York, with 52,600 added, of any job sector since October 2011. Sector job gains over this period were focused in professional, scientific and technical services (27,000) and administrative and support services (22,200.) Private educational and health services added 37,900, the second largest increase in jobs over the past year.

During the same period, construction lost more jobs, with 12,400 gone, than any other sector in the state. Construction sector job losses were concentrated in specialty trade contractors (-7,000.) Employment losses were high in the information sector, which lost a total of 5,400.