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NYC Job Gains Outpace State, Nation
Confirming New York City’s image as a job-growth magnet, it beat the national and statewide gains year-over-year for private sector employment in May, the state Department of Labor said this week. New York City’s Y-O-Y increase was 2.1% to 3,956,100, compared to 1.4% for New York State and 1.9% for the U.S. as a whole.
Gains were greatest in educational and health services (+35,600 jobs), professional and business services (+15,800), leisure and hospitality (+8,800), natural resources, mining and construction (+8,000), trade, transportation and utilities (+6,500), financial activities (+4,400), and other services (+2,700). Manufacturing was the only sector to lose at least 500 jobs (-1,900).
On a sector-by-sector basis, seven sectors added jobs over the 12 months that ended May 31, while manufacturing and information declined. The city’s seasonally-adjusted unemployment rate was 4.2% in May, down 40 basis points from a year ago.
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- ◦Economy
