Archives of the Mayor's Press Office

FOR IMMEDIATE RELEASE
Date: Thursday, September 16, 1999

Release #366-99

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


MAYOR GIULIANI ANNOUNCES CITY ON PACE FOR STRONGEST JOB GROWTH IN CITY'S HISTORY

City Expected To Surpass 1998's Record Year While Unemployment Continues To Fall

Mayor Rudolph W. Giuliani today announced that, according to employment figures released by the New York State Department of Labor, New York City is continuing on its pace to surpass last year's record private sector job growth with the creation of an additional 7,700 jobs in August. Since January, the private sector has added 61,000 jobs; in 1998 the City created a total of 77,400 private sector jobs. In addition, the Mayor also announced that the City's unemployment rate fell to 6.9% in August, an almost one percentage point decline from 7.8% in August 1998.

"This is more great news for New York City," said Mayor Giuliani. "If New York City's private sector job growth continues at this pace, we can expect to surpass last year's record job growth - the strongest private sector job growth since records were first kept 40 years ago. These latest figures further demonstrate our City's strong economy and its ability to create more jobs.

"Since the first of the year, the City has created over 61,000 new private sector jobs. Having already recovered the 320,000 jobs lost during the last recession, our City's economic renaissance continues. As the City's private sector job growth continues to rise, our City's unemployment rate continues to decline and this news reaffirms the fact that New York City is the City people throughout the world turn to for leadership as the Capital of the World."

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