NEW YORK CITY—Using seasonally-adjusted data, New York City hasadded 21,000 private sector jobs in February 2018, with averageweekly earnings up 1.3%, adjusted for inflation, from February oflast year.
Looking at the last decade, Cushman & Wakefield principaleconomist Ken McCarthy tells GlobeSt.com. “It has been anextraordinary period of growth for New York City, which has addedmore jobs faster than any period in its history. It has been aremarkable performance since the expansion began.” Considering NewYork was the financial capital, it bounced back with surprisingresiliency, demonstrating an impressive performance dating back to2008, says McCarthy.
Citing New York State Department of Labor data, New York CityEconomic Development Corporation describes the city's economy asthriving, with a record low unemployment rate of 4.2%, the lowestsince 1976, which is the earliest date for available NYSDOLdata.
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Betsy Kim
Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.
