Job Market Challenges & Opportunities: Navigating Change in Western New York
AS OF JULY 2024
The unemployment rate in New York State stands at 4.3%, while New York City sits slightly higher at 5.0%. These rates give a broad picture of the job market, but the real story lies in how regions like Western New York—including Buffalo, Syracuse, and Rochester—are managing growth and challenges.
Focus on Western New York: Opportunities for Growth
In Western New York, industries like healthcare, education, and manufacturing continue to show resilience and growth. Companies in these sectors are actively hiring, and there’s room for more innovation and investment, particularly as manufacturing evolves with new technologies.
If you’re in one of these industries, it’s crucial to focus on building a team that can support this growth. With demand for healthcare and manufacturing roles rising, businesses can benefit from proactive recruiting strategies. At SEE HR & Recruiting, we help you find top talent so your business is prepared for future expansion.
Coffee Break with HR
🚨 Free HR Training Opportunity! 🚨 (Secure your spot in the link below!)
Are you new to Human Resources or working as an HR Generalist? Want to boost your skills in compliance, employee relations, and navigating tricky workplace scenarios?
Join us for a FREE 1-hour HR Training that equips you with the essential tools to:
✅ Organize and manage employee files effectively
✅ Understand the difference between exempt and non-exempt employees in New York State
✅ Master documentation practices for employee issues
✅ Navigate terminations with confidence
✅ Foster stronger employee relations
✅ Ensure compliance with HR regulations
Whether you’re new to HR or looking to refresh your expertise, this training is packed with actionable strategies to help you succeed!
🎯 When: October 21, 2024 9:00 am – 11:00 am
🎯 Where: Serendipity Labs 100 S Clinton Avenue, 24th Floor, Rochester, New York 14604
🎯 Cost: FREE!
✨ Limited spots available – secure your spot now! ✨
Don’t miss this chance to gain practical HR insights you can start using immediately!
Serendipity Labs
Challenges: Tech and Retail Declines
While some industries are growing, technology and retail in Western New York are facing hurdles. With tech hubs concentrated in downstate areas like New York City, the Western region hasn’t seen the same level of expansion. Retail is similarly challenged, as consumer habits continue to shift online, leaving local businesses with slower job growth.
For companies in these industries, this is a time to rethink workforce strategies. Whether it’s through retraining current employees or managing workforce reductions, SEE HR & Recruiting offers services to help you adjust to these shifting realities.
How to Improve Workforce Retention in Western New York
The key to maintaining a strong business in Western New York lies in employee retention. High turnover rates, especially in challenging economic areas, can leave businesses scrambling to fill roles. By investing in retention programs—like employee assistance plans and financial wellness initiatives—you can ensure that your best employees stay with you.
We can help design these programs to fit your business needs and create a more stable, engaged workforce. When your employees feel supported, they are more likely to stay through both the good times and the challenges.
In Conclusion: While unemployment rates across the state and city offer a snapshot of the labor market, Western New York’s unique challenges and opportunities call for tailored solutions. Whether you’re in a growing sector or facing industry-specific struggles, SEE HR & Recruiting is here to support your business and its workforce.
