Downtown Employment Reaches New Peak
Private-sector employment in Lower Manhattan reached an all-time high of 251,224 in the third quarter of 2018, the most recent period for which data is available, says the Alliance for Downtown New York. That surpasses the pre-9/11 high.
The Downtown Alliance credits the new high to strong leasing activity across industries. In total, there were two million square feet of deals in Lower Manhattan during Q3, a higher tally than Midtown or Midtown South.
“This milestone is important for both practical and symbolic reasons,” said Jessica Lappin, president of Downtown Alliance.
“Practically, it proves that the rebuilding effort has diversified our city’s economy in a meaningful way while generating thousands of jobs in growth industries. Symbolically, it shows that our determination and spirit can never be broken,” she continued. “While our work is not yet done, this data speaks to our phenomenal growth and importance as an engine of opportunity.”
For comments, questions or concerns, please contact Paul Bubny
- ◦Economy
- ◦Lease