NEW YORK CITY EMPLOYMENT CONTINUES TO GROW
City Experiencing Largest Job Growth In 13 Years
Office of Management and Budget Director Joseph J. Lhota issued the following statement today regarding the State's report showing continued growth in employment in New York City.
"The City continues to experience sustained and steady job growth. At the current rate of growth, the City is experiencing its largest increase in jobs in 13 years. For the first eight months of 1997, total City employment is up 45,600 jobs (compared to 31,300 during the same period last year). For this same time period, private sector employment had year-over-year gains of 53,300, compared to 41,300 in the first eight months of last year."
The City's employment figures significantly show self sustained growth in spite of the United Parcel Service strike which resulted in a loss of up to 5,000 positions in the City.
While total employment increased in New York City during August, the total labor force also increased. The City's unemployment rate (seasonally adjusted) was unchanged at 9.5%.
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