Fewer local residents in job market but overall unemployment rate hits record low
While the overall number of Genesee County residents with jobs is lower than a year ago, the local unemployment rate hit its lowest percentage point in decades in December at 2.7 percent.
The labor force (the number of people with jobs or considered employable but unemployed) was 28,000 in December, down from 29,200 in December 2021.
The total number of employed residents was recorded as 27,200, down from 27,600 a year ago, with 800 residents unemployed, down from 1,600 a year ago.
The NYS Department of Labor statistics available online goes back to only 1990. The unemployment rate has never dipped below 3.0 over those decades.
The GLOW-area unemployment rate is 2.8, also a record.
In Erie County rate is 3.3 percent, and Monroe County is 3.0.
The State rate is 5.0, down from 8.5 percent a year ago. The national rate is 3.7 percent, down from 6.5 percent a year ago.