Mayor Michael R. Bloomberg today announced that New York City’s economy continues to grow at a strong pace as the unemployment rate fell to 5.1% this past August according to the New York State Department of Labor.  Unemployment in the City is down from 6.8% since last August, and 51,400 more New Yorkers are working.  Yesterday, the Comptroller released a report showing the seventh consecutive quarter of economic growth in New York City.  The City’s economy continues to outpace the nation’s for the second quarter in a row.

“The lowest unemployment rate since 1988 shows that our Administration’s five-borough economic development plan continues to create good jobs across the City – from Hunts Point to Greenpoint.  By improving our quality of life, driving down crime, attracting private investment and replacing outdated zoning laws, we are continuing to build a City of Opportunity for all New Yorkers.  We need to continue to diversify our economy by catalyzing growth in vibrant industries like manufacturing, biotech, tourism and film production, while also investing in the big projects that make our City great.”