Sixth Consecutive Month of Continued Job Gains
New York City Economic Development Corporation (NYCEDC) announced that 30,000 private sector jobs were added in July in New York City. The data, published in NYCEDC’s monthly Economic Snapshot, is based on an analysis of employment numbers for July 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 134,800 private sector jobs, and the City’s unemployment rate is currently at 6.1 percent in July. July is the sixth consecutive month of private sector job growth for New York City.
“For the sixth straight month, we are creating jobs in New York City, helping put New Yorkers back to work and rebuilding our city’s economy in a more equitable way,” said New York City Mayor Eric Adams. “Our administration is reimagining the city’s approach to workforce and talent development to get more New Yorkers on the path to family-sustaining careers and ensure that no one is left out of our city’s comeback.”
“The continued job growth shows that New York City’s economy is steadily rebounding from the pandemic,” said NYCEDC President and CEO Andrew Kimball. “NYCEDC is proud to support Mayor Adams in creating an equitable economy that serves all New Yorkers by making strategic investments in growing sectors to provide real career pathways.”
July’s job growth brings the private sector total to 3,956,700, approximately 151,700 jobs short of its pre-pandemic total of 4,108,400 jobs.
Since last July, New York City has added 297,500 private sector jobs. The annual (July-to-July) growth of private sector employment was 8.1 percent, faster than New York State (5.5 percent) and the U.S. (4.5 percent).
The Educational Services sector added 9,700 jobs in July, while Health Care and Social Assistance added 7,900 jobs. Educational Services has now regained 87.0 percent of jobs lost during the pandemic, while Health Care and Social Assistance now exceeds its pre-pandemic jobs total.
Accommodation and Food Services saw the third strongest gains in July, adding 6,900 jobs. The sector has now regained 78.4 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 a mission-driven, nonprofit organization that creates shared prosperity across New York City by strengthening neighborhoods and creating good jobs. We work with and for communities to bring emerging industries to New York City; develop spaces and facilities for businesses; empower New Yorkers through training and skill-building; and invest in sustainable and innovative projects that make the city a great place to live and work. To learn more about what we do, visit us on Facebook, Twitter, LinkedIn, and Instagram.