Developments in the New York City Labor Market
Private sector jobs in New York City fell by 626,800 over-the-year to 3,457,100 in February 2021. Losses were widespread and occurred in leisure and hospitality (-237,500), trade, transportation and utilities (-105,800), professional and business services (-80,500), educational and health services (-79,600), other services (-40,900), natural resources, mining and construction (-26,700), financial activities (-23,500), information (-19,700) and manufacturing (-12,600).
Although still 15.3 percent below year-ago level, the labor market data for February 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 (-15.3 percent) compares to a 12.2 percent drop for the state and a 6.0 percent decline for the nation.
The city's seasonally adjusted unemployment rate was 12.9 percent in February 2021, an increase of 0.3 percent from January and a rise of 9.2 percent from February 2020. New York State's rate was 8.9 percent in February 2021. The share of the city's working age population (16+) who were either employed or looking for a job was 58.5 in February.
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]