ALBANY, NY (NEWS10) – The New York State Department of Labor (DOL) has released unemployment rates for the Capital Region as of January 2022. The state’s seasonally adjusted unemployment rate rose from 5.4% in December 2021 to 5.3% in January 2022, according to DOL.
Seasonally adjusted means the figures reflect seasonal influences, such as holiday and summer rentals. To determine unemployment rates in state regions, the DOL uses methods advised by the United States Bureau of Labor Statistics, including results from the Current Population Survey.
According to the DOL, in the Albany-Schenectady-Troy metro area, the unemployment rate was 5.6% in January 2021, down from 3.4% in January 2022. In the Glens Falls metro area, the unemployment rate was 5.6% in January 2021. unemployment was 6.5% in January 2021, down from 4.2% in January 2022. These rates have not been seasonally adjusted.
Here are the unemployment rates by county in January 2022 compared to January 2021.
|county||Unemployed Jan 2022||Net change since January 2021||Unemployment rate Jan 2022||Net change since January 2021|
The unemployment rate in each county decreased between January 2021 and January 2022. The county with the highest unemployment rate in January 2022 was Montgomery at 4.9% and the lowest was Saratoga at 3%.
A WalletHub study from January shows that New York has the fifth-worst recovery in the unemployment rate in the United States. Another WalletHub study shows that weekly jobless claims are nearly 40% lower this year compared to 2021.
The COVID-19 pandemic has led to a significant increase in unemployment rates across the country. According to the US Bureau of Labor Statistics, 44 states hit their highest unemployment levels on record in April or May 2020.