CNA 2022-25 vFINAL 09202022 MASTER COPY - Flipbook - Page 21
3. Unemployment and Workforce Participation
After spiking very high during the winter of 2021 due to the pandemic, unemployment rates have come
down and seem to have stabilized at a fairly low rate, as shown below.36
Table 3: Unemployment rates 2/21, 10/21, 4/22, and 6/22
Source: U.S. Bureau of Labor Statistics
U.S.
New York
Steuben County
Yates County
Feb. 2021
7.1%
9.2%
7.5%
5.9%
October 2021
3.9%
5.3%
4.1%
3.2%
April 2022
3.6%
4.5%
3.4%
2.5%
Participation in the civilian workforce declined during the pandemic and is slowly recovering. The prepandemic level (March 2020) for New York was 60.9% and then went down to 57.7% at its lowest point.
In June 2022, the rate had recovered partially to 60.1%.37 This has put upward pressure on wages.
4. Elder Self-Sufficiency Index
The Gerontology Institute at the Center for Social and Demographic Research on Aging within the
University of Massachusetts-Boston calculates an Elder Self-Sufficiency Index for each state and county
each year. The Elder IndexTM is a measure of the income that older adults need to meet their basic needs
and age in place with dignity. The Index is specific to household size (one or two), location (state or
county), housing (renter or owner), and health status (excellent, good, or poor). It includes the cost of
housing, health care, transportation, food, and miscellaneous essentials. The most recent data was
updated November 5, 2021. The statewide Elder Index for New York is 115% above the national average,
while the Index for both Steuben County and Yates County is 89% of the national average.38
The graphic summary below shows levels of income needed to meet basic needs for a couple in good (not
excellent or poor) health that are renting in New York State, as well as Steuben and Yates Counties.
36
U.S. Bureau of Labor Statistics, https://www.bls.gov/regions/new-york-new-jersey
St. Louis Federal Reserve Economic Data, https://fred.stlouisfed.org/series/LBSNSA36
38 University of Massachusetts-Boston, Center for Social and Demographic Research on Aging, Gerontology
Institute, https://elderindex.org/
37
Pro Action of Steuben and Yates, Inc. Community Needs Assessment 2022 – 2025
Page 21 of 162
