Our area's economy has undergone many transformations during its history. Water-powered mills helped Rochester become the "Flour City" in the early 19th century. The opening of the Erie Canal made the city an early American boomtown, and the development of the photographic industry catapulted Rochester into a position of worldwide economic significance. Today we are transforming to a more diverse economy focused on high-technology industry, education, health care, and a growing small and mid-sized business sector. This transformation reflects the national trend from manufacturing. Locally, significant losses in manufacturing have been offset by gains in other sectors, particularly education and financial activities. 

Between 2020 and 2021, the region gained about 15,000 jobs while recovering from COVID-19 and ensuing shutdowns.  The rate in 2021 was similar to the state (2.6%) and below the nation (3.0%). The region's employment-to-population ratio in 2017-21 was on par with the state and similar to the nation at 60%.

In 2021, the region’s unemployment rate was 4.9%, showing recovery from the 8% rate during the COVID-19 pandemic and ensuing shutdowns. The region’s 2021 rate was similar to the national level and slightly lower than the state levels (5.3% and 6.9%, respectively).

The Educational Services and Financial Activities  in the region grew between 2001 and 2021 (38% and 50%), while jobs in the Manufacturing and Information sectors declined (39% and 52% respectively). The Trade, Transportation, and Utilities sector provided the most jobs in the region at 16% of the total in 2021, followed by Health Care and Social Assistance and Professional and Business Services sectors making up 13% of the total.

The average salary in 2021 in the region of $57,500 was below the state ($88,000) and national ($67,600) figures.  All sectors have wages below state figures, and the rate of increase in average salary has consistently lagged in comparison since 2004.

Since 2000, the number of businesses in the region has grown 11%. Gaining sectors included Educational Services and Professional and Business Sectors.

The gender pay gap in our region is similar to the state and nation, with females earning about 70 cents for every dollar earned by males.