Business & Economy

City of New York Reaches All-Time High Job Totals

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NEW YORK -- The City of New York announced April 15 that based on an analysis of seasonally adjusted job numbers for March 2016 provided by the New York State Department of Labor, New York City added 2,800 jobs in February, reaching an all-time high total of just below 4.3 million jobs across all five boroughs.

Labor force participation also reached an all-time high of 61.5 percent.  Since Mayor de Blasio took office in January of 2014, New York City has added 254,900 private sector jobs, an increase of 7.3 percent during this time of record job creation.

Since Mayor de Blasio took office, the strongest employment gains are in Health Care & Social Assistance, with growth of 48,000 jobs, and Professional, Scientific, & Technical Services, with growth of over 38,200 jobs.

“We’re seeing very strong growth in good-paying, career track jobs,” said Deputy Mayor for Housing and Economic Development Alicia Glen. "And the key investments we are making in targeted sectors like life sciences and advanced manufacturing are going to are going to ensure we deepen that inclusive growth.”

“Right now there are more New Yorkers in the workforce than any other time in our city’s history,” said NYCEDC President Maria Torres-Springer. “That means we’re delivering on Mayor de Blasio’s promise of an economy that is not just vibrant and growing, but truly inclusive of all communities.”

Under the de Blasio administration, New York City has also seen a dramatic increase in the growth of jobs in neighborhoods outside of Manhattan. According to the most recent available data, the number of private sector jobs in boroughs outside of Manhattan increased by 6.4 percent since Mayor de Blasio took office, more than double the rate of the 2.9 percent increase in Manhattan, and significantly higher than the 4.7 percent increase in a comparable timeframe from 2011 to 2013 in the outer boroughs, demonstrating increased economic opportunity for many New Yorkers in neighborhoods that had been previously left behind.

Mayor de Blasio has been particularly focused on creating good middle class jobs that are accessible to New Yorkers from all backgrounds. The City recently announced a suite of initiatives to support emerging developers and minority, women-owned and disadvantaged businesses enterprises across all five boroughs, including a $10 million loan fund that will allow for real estate development and job creation.

About NYCEDC

New York City Economic Development Corporation is the City's primary vehicle for promoting economic growth in each of the five boroughs. NYCEDC's mission is to stimulate growth through expansion and redevelopment programs that encourage investment, generate prosperity and strengthen the City's competitive position. NYCEDC serves as an advocate to the business community by building relationships with companies that allow them to take advantage of New York City's many opportunities. Find us on Facebook or follow us on Twitter, or visit our blog to learn more about NYCEDC projects and initiatives. - Anthony Hogrebe/Ian Fried, NYCEDC 

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