New York & Tri-State CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
NYC Employment Reaches All-Time High
New York City employment reached 4.55 million jobs in 2018, the highest level ever recorded, according State Comptroller Thomas DiNapoli. With 820,400 jobs added between 2009 and 2018, the city’s current job expansion is also the fastest on record.
“New York City is experiencing its largest and longest job expansion since the end of World War II, and the city has been the driving force behind the state’s employment gains,” DiNapoli said. However, he added, “While job growth remains strong, there are national and global risks that could affect the pace of future growth.”
Business services, leisure and hospitality, and healthcare accounted for 60% of the gains since 2009, while the city’s tech sector has grown by 80% since that time to 143,000 positions, DiNapoli reported. The high-paying securities industry has also reported solid job gains in recent years, but is still 4% smaller than before the 2007 financial crisis.
Connect New York is coming up on April 30! Click here to register for the event.
For comments, questions or concerns, please contact Paul Bubny
- ◦Economy
