New York Related News

City of New York Adds Over 21,500 Jobs in Month of July

The New York City Economic Development Corporation (NYCEDC) today announced that New York City added 21,500 private sector jobs in July 2016, based on an analysis of seasonally adjusted job numbers for July 2016 by the New York State Department of Labor.

During the past year, New York City has gained 93,800 private sector jobs, an increase of 2.6 percent since July 2015. Since Mayor de Blasio took office, New York City has added 291,800 private sector jobs, an increase of 8.4 percent. New York City’s job growth is at an all-time high, with 4.3 million jobs across the five boroughs.

From July 2015 to July 2016, the Accommodation & Food Services industry experienced the highest growth, adding 19,700 jobs. The Health Care & Social Assistance saw the second-largest increase, adding 18,200 jobs over the past year.

“July’s job growth reflects 21,500 more opportunities for New Yorkers to start a career, grow a business, and support their families,” said NYCEDC President Maria Torres-Springer.  “We are committed as a city to building ladders of success for everyone who calls this city home.”

In July, NYCEDC announced that in the first two years of Mayor de Blasio’s administration, all five boroughs have added jobs at a significantly higher rate than in previous years. The borough of Brooklyn saw the most significant increase at 11.60 percent. Jobs grew by 7.80 percent in Queens, 6.93 percent in the Bronx, 5.94 percent in Manhattan and 5.54 percent in Staten Island.

“Creating jobs is crucial to a strong economy, and under Mayor Bill de Blasio and EDC President and CEO Maria Torres-Springer, New York City is adding jobs at an incredible rate. Job growth has not been contained to just Manhattan, with Brooklyn now establishing itself as one of the largest employment hubs in the country. The Brooklyn Chamber looks forward to working with the Mayor and his administration to continue this trend and make sure the five boroughs lead the way in job creation,” said Carlo A. Scissura, President and CEO of the Brooklyn Chamber of Commerce.

Earlier this month, NYCEDC announced several new efforts to spur economic growth and create jobs, including the creation of a food manufacturing hub at the Brooklyn Army Terminal (BAT) Annex building  and a $10 million Emerging Developer Loan Fund  to provide affordable pre-development and land acquisition low-interest loans for emerging developers, which includes many minority and women-owned firms.

The New York State Department of Labor (NYSDOL) releases employment data for New York City and State that it collects under a joint program with the Bureau of Labor Statistics. This information is subject to adjustment as more data becomes available.

Compliments of NYCEDC