Buffalo Area Economic Summary
Updated June 28, 2017
This summary presents a sampling of economic information for the area; supplemental data are provided for regions
and the nation. Subjects include unemployment, employment, wages, prices, spending, and benefits. All data are
not seasonally adjusted and some may be subject to revision. Area definitions may differ by subject. For more area
summaries and geographic definitions, see www.bls.gov/regions/economic-summaries.htm.
Unemployment rates for the Buffalo area,
selected area counties, and the nation
Average weekly wages for all industries by county
Buffalo area, 4th quarter 2016
(U.S. = $1,067; Area = $923)
Unemployment rates
4.5
United States
4.1
4.5
Buffalo area
4.8
4.3
Erie Co.
4.7
5.0
Niagara Co.
0.0
5.5
2.0
4.0
May-16
6.0
May-17
Source: U.S. BLS, Local Area Unemployment Statistics.
Source: U.S. BLS, Quarterly Census of Employment and Wages.
Over-the-year changes in employment on nonfarm payrolls and employment by major industry sector
12-month percent changes in employment
Percent
Buffalo area employment
(numbers in thousands)
2.5
2.0
1.5
1.0
0.5
0.0
May-14
Buffalo area
May-15
United States
May-16
Source: U.S. BLS, Current Employment Statistics.
May-17
Total nonfarm
Mining, logging, and construction
Manufacturing
Trade, transportation, and utilities
Information
Financial activities
Professional and business services
Education and health services
Leisure and hospitality
Other services
Government
Change from May
May 2017
2016 to May 2017
Number
Percent
3.6
-0.9
0.2
-0.8
0.5
0.0
0.6
0.9
0.3
1.2
1.6
0.6
-4.0
0.4
-0.8
7.7
0.0
0.8
0.9
0.5
4.8
1.8
566.9
21.5
52.2
102.4
7.0
34.7
72.6
97.0
60.8
26.2
92.5
Source: U.S. BLS, Current Employment Statistics.
• www.bls.gov/ro6
Over-the-year changes in the selling prices received by
producers for selected industries nationwide
Over-the-year change in the prices paid by urban
consumers for selected categories
12-month percent change in CPI-U, May 2017
8.0
7.3
Northeast region
U.S. city average
6.0
Percent
4.0
0.0
General freight trucking
Hospitals
Fabricated metal product mfg
3.0
2.0
5.4
1.0
4.0
2.0
12-month percent changes in PPI
0.0
1.7
1.9
-1.0
1.2
All Items
0.9
-2.0
Food
-3.0
Energy
-4.0
May-14
Source: U.S. BLS, Consumer Price Index.
Average annual spending and percent distribution for
selected categories
Northeast Region average annual expenditures 2015
May-15
May-16
Average hourly wages for selected occupations
Occupation
Buffalo area
Total, all occupations
All other
$10,820
18.3%
Housing
$20,817
35.3%
Healthcare
$4,328
7.3%
Personal
insurance &
pensions
$7,103
12.0%
Food
$6,882
11.7%
Transportation
$9,026
15.3%
Total:
$58,976
Employer costs per hour worked for wages and
selected employee benefits by geographic division
Total compensation
Wages and salaries
Total benefits
Paid leave
Vacation
Supplemental pay
Insurance
Retirement and savings
Legally required benefits
United
States
$22.30
$23.86
General and operations managers
53.07
58.70
Lawyers
50.35
67.25
Registered nurses
34.40
34.70
Accountants and auditors
34.18
36.89
Insurance underwriters
33.45
36.29
Construction laborers
18.89
18.22
Customer service representatives
17.19
16.91
Team assemblers
15.78
15.65
Receptionists and information clerks
14.51
14.00
Retail salespersons
12.73
13.07
Childcare workers
11.25
11.02
Cooks, fast food
10.26
9.89
Source: U.S. BLS, Occupational Employment Statistics, May 2016.
Source: U.S. BLS, Consumer Expenditure Survey.
Private industry, March 2017
May-17
Source: U.S. BLS, Producer Price Index.
Middle
Atlantic (1)
$41.55
27.21
14.34
3.10
1.56
2.97
3.37
1.76
3.15
(1) Middle Atlantic includes NJ, NY, and PA.
Source: U.S. BLS, Employer Costs for Employee Compensation.
United
States
$33.11
23.06
10.06
2.30
1.18
1.17
2.65
1.34
2.60
Over-the-year changes in wages and salaries
Percent
3.5
12-month percent changes in ECI
3.0
2.5
2.0
1.5
1.0
0.5
0.0
Mar-14
Middle Atlantic
Mar-15
United States
Mar-16
Source: U.S. BLS, Employment Cost Index.
New York-New Jersey Information Office • [email protected] • https://www.bls.gov/regions/new-york-new-jersey • 646-264-3600
Mar-17