Press Release Archives #065-01 - MAYOR GIULIANI ANNOUNCES A RECORD 99,300 NEW PRIVATE SECTOR JOBS WERE CREATED IN 2000

Archives of the Mayor's Press Office

FOR IMMEDIATE RELEASE
Date: Thursday, March 1, 2001

Release # 065-01

Contact: Sunny Mindel/Curt Ritter
(212) 788-2958

MAYOR GIULIANI ANNOUNCES A RECORD 99,300 NEW PRIVATE SECTOR JOBS WERE CREATED IN 2000

Record Job Growth Continues With the Creation of 12,500 New Jobs In January

Mayor Rudolph W. Giuliani announced today that, according to revised employment figures released by the New York State Department of Labor, New York City had its strongest one--year private sector job growth in history in 2000 with the creation of 99,300 new private sector jobs. Last year's record job growth surpassed the City's previous record set in 1999 when 86,800 new private sector jobs were created. In addition, the Mayor announced that 12,500 new private sector jobs were created in January of this year.

Since January 1994 the City has experienced the strongest seven-year job gain on record, with the creation of more than 450,000 new jobs since January 1994, 100,000 more new jobs than the 348,000 jobs the City lost in the early 1990s.

The Mayor also announced that in 2000 New York City's private sector employment recorded a growth of 3.3%, outpacing the rest of the country's employment, which grew at 2.1%. Since 1993 New York City has also outpaced the rest of the State with a job growth of 16.6%, surpassing the rest of the State which grew by 10.9%.

In addition, the Mayor also noted that the City's unemployment rate averaged 5.7% in 2000 -- falling from 6.7% in 1999 -- 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 percent.

"This is great news for New York City," said Mayor Giuliani. "Following the record private sector job growth in 1999, which was the City's best performance in more than 40 years, today's numbers are further proof that our City's economic renaissance continues. With the creation of more than 450,000 jobs since January 1994, New York City continues to set an example for the rest of the nation."

www.nyc.gov