June is the city’s fifth consecutive month of continued private sector job growth. On July 22, 2022, the NYC Economic Development Corporation (EDC) announced in its monthly Economic Snapshot that 22,100 private sector jobs were added in June in NYC.
This data is based on an analysis conducted by the NYS Department of Labor (DOL) and seasonally adjusted by the city’s Office of Management and Budget. DOL collects their employment data through a joint program with the Bureau of Labor Statistics, and it remains subject to adjustment as more data becomes available.
Since Mayor Eric Adams took office in January 2022, NYC has added 101,800 private sector jobs. The City’s June unemployment rate is 6.2 percent, and June marked the City’s fifth consecutive month of job growth.
June’s job growth brings the City’s private sector job total to 3,923,700, approximately 184,700 jobs less than the pre-pandemic total of 4,108,400. At its pandemic-era low, private sector employment dropped to 3,161,400 after the economy shed 946,900 jobs.
NYC has also added 298,600 private sector jobs since last June, for an annual growth rate of 8.2 percent. This growth was faster than both the state and country’s annual growth rate, which were 5.7 percent and 4.8percent respectively.
The Health Care and Social Assistance sector and the Educational Services sector saw the most growth in June, adding 5,500 jobs each. Health Care and Social Assistance employment now exceeds pre-pandemic levels. Education Services has seen a slower growth rate, regaining 53.7% of jobs lost during the pandemic. The Administrative and Support Services sector saw the third strongest gains in June, adding 3,700 jobs, and has regained 96.7% of jobs lost during the pandemic.
EDC President and CEO Andrew Kimball shared, “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.”
Deputy Mayor for Economic and Workforce Development Maria Torres-Springer added, “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. As we drive the City’s recovery, we will continue to focus on increasing economic opportunity for all New Yorkers and diversifying our economy.”
Mayor Eric Adams: “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 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.”
By: Cassidy Strong (Cassidy is a CityLaw intern and a New York Law School student, Class of 2024.)
City of New York Adds over 22,100 Private Sector Jobs in Month of June, July 22, 2022