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Tuesday, April 23, 2024

Schenectady County Sees 3.5% Unemployment Rate Increase Compared to Last Year’s Numbers


SCHENECTADY⁤ — The job market in Schenectady County has been on ‍a rollercoaster ride, with the latest unemployment ‍rate ‍at 3.5% for⁢ October. While this is below the⁣ statewide average, it is still higher than ⁤the rate ‌of 2.7% ‍reported ⁢in the same ⁤month of the previous year.

The recent data from the state Department of Labor (DOL) shows ⁤that the county’s unemployment rate has‌ risen 0.7% ​from​ September to reach 3.5% in October, without taking into account seasonal variations.

The current seasonally adjusted unemployment‍ rate in ⁤New York state is at 4.2%, as reported ‍in October 2023.

The county has seen an addition of 77,200 workers this month, showing an increase of 900 workers compared ​to the ⁢previous year.⁤ Moreover, the ‌Albany-Schenectady-Troy​ region has also reported an increase ⁢of 8,200 nonfarm ⁢jobs‍ in the last 12 months,​ with an additional 6,600 private sector jobs.

Richard Ruzzo, ⁣a Schenectady ⁤County Legislator and managing partner of Shepherd Communication & ​Security company, stated that local employers are struggling to find qualified job candidates from a limited talent pool.

“Both my ​business and others across the county are facing a shortage of skilled workers, from entry-level ⁣to‌ leadership roles,” ‍said Ruzzo. “This is causing an economic disadvantage for everyone involved.”

In the ‌past six months, ‍the Schenectady County unemployment rate has fluctuated by⁣ a few ‍percentage points, reaching a low of 3.1% in June, increasing to 3.5% in August,⁢ and then going down to 3.2% ‌in ⁤September.

“We would love​ to see the rate⁤ below three ‌percent,”‍ said ‌Ruzzo. “A three⁣ percent unemployment rate is considered a natural rate, so⁤ we are just slightly above that. However, the good news⁤ is that we have more​ people employed ​in ⁣the county than ever before, and we ‍can create⁢ more job opportunities. The county government itself is also hiring across various⁢ departments.”

Currently, the ⁤county‍ has multiple ⁢job openings, including ‌roles such as ⁢a public health nurse, assistant public defender, and diesel mechanic.

“We ⁢are looking for dedicated individuals to join our team,” said Ruzzo.

According to⁢ the DOL,⁢ the statewide labor force participation ⁣rate stood at 61.6% ‌in October, maintaining its highest level ‌in over a decade.

In October, Saratoga County recorded an​ unemployment rate ‌of 2.8%, an increase ⁢from 2.2% in the same month last year. Fulton County saw a rise in its ⁣unemployment rate from ⁤3.2% ‌in October ​2022 to 4% last month, while Montgomery County had⁢ a 4.2% unemployment rate,⁤ up by​ 0.8%​ from the previous year.

Kiara Thomas
Kiara Thomas
I uncover quirky and compelling stories. Always on the lookout for the 'why' behind the 'what'.
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