Contact: Colleen Roche (212) 788-2958 or Curt Ritter (212) 788-2971
"The fact that we have been able to create over 216,000 new private sector jobs is a true milestone for New York City, considering the fact that when I became Mayor the prior administration has been responsible for the loss of over 320,000 private sector jobs," said Mayor Giuliani. "One of my primary concerns as Mayor was to see that this trend was reversed and that New York City became a place of employment growth and opportunity.
"Our historic reductions in crime, targeted tax cuts and the increased national awareness of the City's improved business economy have all led to an increase in investment and reinvestment in our City," the Mayor continued. "Since January 1, 1997 our Administration has added over 86,500 new private sector jobs, and in 1997 we saw the largest increase in new job growth in 13 years. These factors all point to a revitalized City and New Yorkers can once again look to their City as a place of opportunity," the Mayor concluded.
The City continues to experience sustained and steady job growth. For the first three months of 1998, total City employment is up 30,500 private sector jobs. In addition, unemployment dropped to 8.6%, down from 8.8% in February.