Albany, NY – December 2023 Jobs Report – Mixed Signals in the Capital City

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The December 2023 jobs report for Albany, NY presents a mixed picture of the city’s employment landscape. While the overall unemployment rate remained low, specific industries experienced growth and contraction, indicating a nuanced economic recovery.


  • Unemployment rate: 3.2% (December 2023), unchanged from November 2023.
  • Job growth: Flat compared to November 2023, down slightly from December 2022.
  • Total nonfarm employment: 478,300 (December 2023), up 1.9% from December 2022.


  • Strong growth in trade, transportation, and utilities: This sector added 1,400 jobs in December 2023 compared to November 2023, a 1.8% increase.
  • Continued decline in manufacturing: The manufacturing sector lost 100 jobs in December 2023, marking a 0.4% decrease from November 2023 and a 2.2% decline compared to December 2022.
  • Slight rebound in construction: The construction sector added 300 jobs in December 2023, reversing a small decline in November 2023. However, it remains down 7.5% compared to December 2022.

Industry Growth and Decline:



Year-over-Year Comparison:

  • Overall employment slightly above December 2022 levels (+1.9%).
  • Job growth concentrated in trade, transportation, and utilities (+3.5%) and professional and business services (+2.4%).
  • Manufacturing (-2.2%) and mining, logging, and construction (-5.5%) continue to lag behind December 2022 levels.

Month-over-Month Comparison:

  • Flat job growth compared to November 2023.
  • Construction sector showed small improvement after November decline.
  • Manufacturing and information sectors continued to lose jobs.

Future Outlook:

The future outlook for Albany’s job market remains uncertain. While the low unemployment rate indicates a strong labor market, concerns persist about national economic headwinds and their potential impact on local industries. The ongoing investment in the semiconductor industry through initiatives like the $1 billion chip research project could create new opportunities in the technology sector. However, the future trajectory of manufacturing and construction, key pillars of the local economy, remains unclear.

10 Growing Occupations in Albany, NY (December 2023):

  1. Registered nurses
  2. Software developers and applications
  3. Home health aides and personal care aides
  4. Retail salespersons
  5. Customer service representatives
  6. Truck drivers and tractor-trailer drivers
  7. Elementary and middle school teachers
  8. General and operations managers
  9. Medical and health services managers
  10. Licensed practical nurses

10 Companies Hiring Now in Albany, NY (as of February 2nd, 2024):