The city averaged monthly job gains of only 12,000 during the first three months of 2023, well below the monthly average of 19,000 last year. emerge-for-nyc-as-office-vacancy-rate-keeps-rising/
The good news is that gains have brought the city to within 30,000 jobs of the 2019 pre-pandemic record, which means that even at the current pace, New York City will completely recover by the end of the second quarter all the 1 million jobs it lost in the pandemic shutdown.Despite headlines of major layoffs on Wall Street and in tech companies, employment in both sectors continued to increase — although more slowly than last year.
The city’s unemployment remained unchanged in March at 5.4% compared with the previous month. Nationally, the jobless rate was 3.5%. Yet in a worrisome sign, the number of first-time claims for unemployment insurance has been creeping up. For much of this year, jobless claims have been
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