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City's Unemployment Rate Falls To Lowest Level In More Than 10 Years
Mayor Rudolph W. Giuliani announced today that, according to employment figures released by the New York State Department of Labor, New York City's private sector job growth remains strong, with the creation of 8,100 new private sector jobs in June.
When compared to June of last year, private sector employment is up by 78,800 jobs. Since January 1994 the City has created 401,500 new private sector jobs, a dramatic reversal after the City's loss of 348,000 jobs in the early 1990s.
In addition, the Mayor also noted that the City's unemployment rate fell to 5.6%, from 6.1% in May, the lowest rate in over 10 years. The City's unemployment rate is down more than four percentage points since December 1993, when unemployment was 10.2%.
"New York City is on pace for another record year in job creation," said Mayor Giuliani. "With the creation of 8,100 private sector jobs last month, this is more great news for our City's economy and further proof that New York City's economic renaissance continues to remain strong."
www.nyc.gov