Total Employment in all five boroughs stood at 3,873,100 through June of 2012. This represents a 2.85 percent increase since January. The average growth in employment during this period over the previous 22 years was 2.05 percent according to data from the New York State Department of Labor. Employment in New York City grew at a pace above its long run average in the first twelve months of 2012.
Private employment in New York City, according to the most recent report by the New York State Department of Labor, is 3,333,800, 3.31 percent more than in January 2012. Private employment gains in the city over the first six months of the year grew ahead of the long run average. The average January to June increase in the previous 22 years is 2.33 percent. Private employment gains were strongly beating the long run average, but the pace of growth has slowed in recent months.
Job growth in government has been minimal in during the first 6 months of the year. The sector employs only .06 percent more now than it did in January. The total number of people employed in the Government Sector is now 539,300, according the New York State Department of Labor. There is usually a seasonal weak period in government hiring between May and June, but the 22 year average gain for the first six months of the year, .61 percent, is still above this year’s gains.
Sectors outpacing their long run average growth this year are Retail Trade, Professional and Business Services, and Leisure and Hospitality. Retail has grown 2.59 percent this year while its 22 year average growth for the same period is .52 percent. Overall, the retail sector employs 328,700 people in City according to the most recent employment report by the New York State Department of Labor.
Sectors underperforming their long run average growth this year are Natural Resources, Mining and Construction, Real Estate and Rental and Leasing, and Education and Health Services. The Natural Resources, Mining and Construction sector has grown 5.08 percent this year while its 22 year average growth for the same period is 7.56 percent. Overall, the sector employs 107,600 people in New York City according to the most recent employment report by the New York State Department of Labor.
