The rate of job growth in the Rochester region accelerated in October and November of 2019 according to figures released by the New York State Department of Labor and U.S. Bureau of Labor Statistics.
After expanding 0.6% in September, the regional economy added jobs at an annual rate of 1.0% and 1.4% in October and November, respectively. From October 2018 to October 2019, the Rochester Metropolitan Statistical Area (MSA) grew by 5,500 jobs. Preliminary November-to-November data reflect a 7,900-job expansion. The November growth rate exceeds the statewide average by two-tenths of a percent and ranks Rochester (along with Syracuse) as the third-fastest growing region in the state behind Ithaca (2.4%) and NYC (1.7%).
The Rochester MSA has added jobs every month so far in 2019, and the annual growth rates in October and November were the year’s fastest to-date. October represented the first time the region’s total non-farm employment level surpassed 550,000, a level that continued into November.
The performance also moved the Rochester MSA into the top-30 of the 53-metro benchmark group against which the Rochester Chamber’s ROC2025 evaluates the region’s economic performance. Its October job growth rate exceeded that of peer metros like Richmond, VA (0.9%), Bridgeport, CT (0.9%), Greensboro, NC (0.7%), Memphis, TN (0.7%), Buffalo, NY (0.6%), Charleston, SC (0.3%), and Grand Rapids, MI (0.2%).
Greater Rochester Chamber of Commerce President and CEO Bob Duffy said, “These latest numbers validate the fact that the Rochester and Finger Lakes region has world-class talent and outstanding companies ready to put people to work. Moving forward as part of Rochester Chamber’s ROC2025 role in talent strategy, our goal is to take the region’s workforce development and recruitment efforts to a new level. Rochester Chamber serves to act as a convener between companies, job candidates, and workforce development resources while making people aware of the great programs and initiatives available to them. It our intention to serve as the glue between existing services and stakeholders. We aim to streamline relationships and become more agile in the process while developing new, innovative approaches that reach a diverse cross-section of our workforce and employer communities.”
ROC2025 is an alliance of private and public sector economic development organizations committed to accelerating economic growth in Greater Rochester by deepening capacity and coordination in five priority areas: business retention and expansion; business attraction; talent strategy; regional branding and marketing; and downtown development. More information is available at www.roc2025.org.
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