Albany-area unemployment 3.6% in February

Albany-area unemployment 3.6% in February

ALBANY — Unemployment stood at 3.6% in February across the Albany-Schenectady-Troy metro area, the state Department of Labor reported Tuesday. At the local level, the area jobless rate was as low as 3.2% in Saratoga County. February was the 24th month since the onset of the pandemic in New York state, and its impacts continue to ripple through the workforce. Labor force participation — the number of working-age people working or actively seeking work — continues to lag behind pre-pandemic levels. Statewide, the labor force totaled 9.95 million people in February 2020 and 9.4 million in February 2022, a decrease…
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2.6% Capital Region unemployment rate lowest in a third of a century

2.6% Capital Region unemployment rate lowest in a third of a century

ALBANY — Capital Region unemployment dropped to 2.6% in December, the lowest rate ever seen in the 32 years the current recording system has been in use.The state Department of Labor reported the estimates Tuesday. The jobless rate is preliminary, but surpasses the previous record low — 3.0% in May 2001 — by so much that it should be beyond any margin of error.The number likely is a byproduct of what has been dubbed The Great Resignation, in which many Americans have dropped out of the labor force, whether by choice or force of circumstance.The labor force is defined as people working for pay…
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