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.
