Developments in the New York City Labor Market
Private sector jobs in New York City fell by 532,500 over-the-year to 3,503,200 in March 2021. Losses were widespread and occurred in leisure and hospitality (-200,500), trade, transportation, and utilities (-100,300), professional and business services (-66,000), educational and health services (-57,500), other services (-33,200), natural resources, mining, and construction (-24,000), financial activities (-23,100), information (-17,700), and manufacturing (-10,200).
Although still 13.2 percent below year-ago level, the labor market data for March reflect a resumption of economic activity that had been curtailed due to the coronavirus (COVID-19) pandemic and efforts to contain it. The city's private sector rate of change (-13.2 percent) compares to a 10.1 percent drop for the state and a 4.3 percent decline for the nation.
The city's seasonally adjusted unemployment rate was 11.7 percent in March 2021, a drop of 1.2 percent from February and a rise of 7.9 percent from March 2020. New York State's rate was 8.5 percent in March 2021. The share of the city's working age population (16+) who were either employed or looking for a job was 62.2 in March.
Industry Data
Contact
For More Information Please Contact:
Elena Volovelsky
NYS Department of Labor
9 Bond Street, 4th Floor
Brooklyn, NY 11201
Phone: (718) 613-3971
Email: [email protected]