Un­em­ploy­ment rate drops be­low 5 per­cent in Fe­bru­ary

The Buffalo News - - BUSINESS -

An­other month, an­other nearly three-decade low in the Buf­falo Ni­a­gara un­em­ploy­ment rate. ¶ The re­gion’s job­less rate dropped to 4.7 per­cent dur­ing Fe­bru­ary – its low­est level for any Fe­bru­ary since at least 1990 – and more than a full per­cent­age point be­low the 6.1 per­cent rate of Fe­bru­ary 2018. ¶ The lat­est re­port on un­em­ploy­ment from the State La­bor Depart­ment is an­other sign that the Buf­falo Ni­a­gara job mar­ket is fairly ro­bust, even if the pace of hir­ing is sub­dued. ¶ With a la­bor pool that is barely grow­ing, even a mod­est uptick in hir­ing can push down the job­less rate. “The econ­omy is mov­ing along,” said Ti­mothy Glass, the La­bor Depart­ment’s re­gional econ­o­mist in Buf­falo. “We con­tinue to pro­duce jobs and fill them.”

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