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NYC Joblessness Hits Record Low

The city’s unemployment declined to a seasonally adjusted rate of 4.1% in August, the lowest since reporting began in 1976, the New York City Economic Development Corporation said this week. The NYCEDC attributed the gains in part to the de Blasio administration’s New York Works plan introduced in June 2017, although statewide data show year-over-year unemployment declines in all of New York State’s metro areas.

Based on seasonally-adjusted data, New York City added 6,100 sector jobs during August. The city’s strongest job gains were found in the combined sector of education & health services, which added a total of 3,200 jobs last month. The information sector also added 2,300 jobs to payrolls in August 2018.

“This administration is committed to creating good-paying jobs by equipping New Yorkers to work within the industries of the new economy, enabling them to access a pathway to the middle class,” said NYCEDC president James Patchett.


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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 GlobeSt.com 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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