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NYC Construction Employment Still Lags Pre-Pandemic Levels
New York state is one of five states that have not recovered from pandemic job losses in the construction sector as construction businesses in New York City continue to face a variety of challenges, including softer demand for office space, State Comptroller Thomas P. DiNapoli said in a new report. 2024 construction employment in the city lagged 2019 levels by 11.3%, while statewide construction employment excluding the city was up 0.8% from five years ago.
“Spending on residential construction has rebounded since the pandemic, but nonresidential construction spending, especially in New York City, remains below 2019 levels and could continue to lag in the near future,” said DiNapoli. “A number of factors, many of them out of the city’s control, will affect future growth in the construction sector.
“For example, federal policy on tariffs and immigration may impact construction costs and the labor pool. There are steps the city could take to facilitate growth, and where appropriate, encourage the development of infrastructure and buildings to foster local economic growth.”
- ◦Development
- ◦Policy/Gov't
