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NY Construction is “Booming” Citywide and Statewide
New York State’s construction industry is “booming,” according to State Comptroller Thomas DiNapoli. “In 2018, the construction industry was nearly 11% larger than it was 10 years earlier.”
At both state and city level, construction employment has now reached record levels, according to a report from DiNapoli. Statewide, employment grew by 91,600 jobs between 2010 and 2018, a 30% increase to 398,400.
In New York City, the increase during this time was 40%, and employment in the sector is now a record 157,800 jobs citywide. That represents a 19% increase over the city’s construction workforce before the Great Recession, when widespread layoffs were common.
Construction spending in New York City set a record of $61.5 billion in 2018, according to the New York Building Congress. However, the group expects spending to decline slightly in 2019, although construction employment in the city continued to grow in the year’s first quarter.
Pictured: 30 Hudson Yards tops out
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- ◦Economy
- ◦Development
