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NYC Employment Now at 99.4% of Pre-COVID Levels

New York City’s labor market continues to recover, as the private sector has added jobs for 12 consecutive months and the labor force participation rate has hit a record high, the New York City Economic Development Corporation reported. Private sector employment is now at 99.4% of pre-COVID levels.  

However, NYC EDC president Andrew Kimball noted that growth has slowed in recent months, “and recent job losses in the Information sector show evidence of the potential headwinds facing parts of the economy.”  

Return-to-office metrics remained stable in February, as office occupancy has doubled over the past year. Although vacancies have ticked up, the NYC EDC report said they’re “not at crisis levels.” 

The latest monthly report noted that tourism indicators have declined slightly from recent post-COVID highs but are still firmly on the path to recovery. Recovery in subway ridership is slowing near 70%, while bus ridership fell slightly to 65.7%. 


Inside The Story


About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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