New York City Economic Development Corporation (NYCEDC) announced that 22,100 private sector jobs were added in June in New York City. The data, published in NYCEDC’s Monthly Economic Snapshot, is based on an analysis of job numbers for June 2022 by the New York State Department of Labor (NYSDOL), that are seasonally adjusted by Office of Management and Budget (OMB).
Since Mayor Adams took office in January 2022, New York City has added 101,800 private sector jobs, and the City’s unemployment rate is currently at 6.2 percent in June. June is the fifth consecutive month of private sector job growth for New York City.
“With more than 100,000 jobs created during the course of this administration and five consecutive months of job growth, New York City’s economic recovery is moving full-speed ahead,” said New York City Mayor Eric Adams. “Our administration is committed to building back an economy that is more equitable and inclusive than ever, and we will continue working every day to make that a reality for all New Yorkers.”
“I’m very encouraged to see New York City continue its recovery at a solid clip, and to see the rebound of healthcare jobs in particular to pre-pandemic levels,” said Deputy Mayor for Economic and Workforce Development Maria Torres-Springer. “As we drive the City’s recovery, we will continue to focus on increasing economic opportunity for all New Yorkers and diversifying our economy.”
“New York City’s economy is on the right path of recovery, and the strong growth we’re seeing demonstrates New Yorkers are finding good jobs,” said NYCEDC President and CEO Andrew Kimball. “With the Adams’ administration continuing to make key investments as outlined in the Economic Blueprint, we are primed for even greater job growth in all five boroughs.”
June’s job growth brings the private sector total to 3,923,700, approximately 184,700 jobs short of its pre-pandemic total of 4,108,400 jobs. At its pandemic-era low, private sector employment was down to 3,161,400 — as the economy shed 946,900 jobs, or 23 percent, from pre-pandemic levels.
Since last June, New York City has added 298,600 private sector jobs. The annual (June-to-June) growth of private sector employment was 8.2 percent, faster than New York State (5.7 percent) and the U.S. (4.8 percent).
The Health Care and Social Assistance and Educational Services sectors each added 5,500 jobs in June. Health Care and Social Assistance jobs now exceed the sector’s pre-pandemic levels, while Education Services has now regained 53.7 percent of jobs lost during the pandemic.
Administrative and Support Services saw the third strongest gains in June, adding 3,700 jobs. The sector has now regained 96.7 percent of jobs lost during the pandemic.
NYSDOL releases employment data for New York City and State that it collects under a joint program with the Bureau of Labor Statistics. This information is subject to adjustment as more data becomes available.
New York City Economic Development Corporation is the City’s primary vehicle for promoting economic growth in each of the five boroughs. NYCEDC’s mission is to stimulate growth through expansion and redevelopment programs that encourage investment, generate prosperity and strengthen the City’s competitive position. NYCEDC serves as an advocate to the business community by building relationships with companies that allow them to take advantage of New York City’s many opportunities. Find us on Facebook or follow us on Twitter, or visit our blog to learn more about NYCEDC projects and initiatives.