Employment in NYC
December 8, 2011
Around Town – By Neal Tepel
New York City’s unemployment rate was up slightly from September at 8.8 percent, though still improved from 9.0 percent one year ago. While its higher than the state’s (7.9) its lower than the nation’s (9.0). New York City’s private sector employment increased by 20,300 or 0.6 percent since October 2010.
The City’s private sector growth rate (0.6%) this past year was not as strong as either the state’s (1.0%) or the nation’s (1.7%) The private sector employment increased by 25,400 or 0.8 percent since September 2011, better than the 10‐year average of 20,900 for this time of year. The sectors with the most job growth this past year include Accommodation and Food Services (+12,000), Professional, Scientific, and Technical Services (+10,700), and Educational Services (+10,400). The largest job losses were in Government (−8,600), Other Services (−6,000), and Health Care and Social Assistance (−5,600).
The worst job loss since this past September was in the Real Estate sector (−2,000). Job losses were light in those sectors that lost jobs while the biggest job gains since this past September were in Educational Services (+9,800), with 8,400 new jobs in higher education. The next largest gains were in Professional, Scientific, and Technical Services (+4,800), and Government (+4,100).