The New York State Department of Labor (NYSDOL) announced yesterday that the Buffalo Niagara region added 5,400 jobs from March of 2011 to March of 2012.  That figure represents a 1% annual growth rate and the strongest job growth expansion in our region since last September.  While the numbers themselves are good news, the analysis behind them by NYSDOL Regional Economist John Slenker gives me even more reason for optimism.

According to Slenker the job growth "crosses a lot of industries."  This speaks very well to the growing diversity of our workforce, a trend first identified by BNE's 2010 Labor Market Assessment entitled "Who's Your Economy?"  This report pointed out that Buffalo Niagara's economy more resembles that of the rest of the nation, and this transition has, and should continue to, allow us to fare better during the recession than regional economies driven primarily by one industry. 

I am also encouraged by the continuing growth in construction employment which saw an almost 8 percent increase in March.  While a number of factors are likely behind the growth here, I think it's a good sign that public investments and private development are moving forward.  The 4 percent increase in manufacturing jobs cited is another promising sign that the advanced manufacturing companies we are seeking to attract to the region can thrive and prosper here. 

Thomas A. Kucharski

President & CEO

takucharski@buffaloniagara.org

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