March 15, 2017 Comments Off on NYC Unemployment Lowest in 40 Years Views: 371 New York News, Top New York Stories

NYC Unemployment Lowest in 40 Years

The citywide unemployment rate in New York City dropped to 4.5% in January 2017. The rate is at its lowest point since 1976, the earliest available unemployment data from the New York State Department of Labor.

“As our economy continues to grow, we are seeing record low unemployment and new jobs in nearly every sector,” said Alicia Glen, deputy mayor for housing and economic development.

The current unemployment rate breaks the previous record of 4.6% in December 2006.

Since December 2013, when Mayor de Blasio took office, jobs and wages have gone up in every borough. Brooklyn saw the highest growth in private sector jobs, with an increase of 12.8%; the Bronx reported the biggest drop in unemployment, with a 4.4% decrease; and Manhattan saw the highest growth in average wages, with an increase of 5.9%.

Read More at the New York City Economic Development Corporation

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