Total employment across all five boroughs of New York City reached 3,873,100 as of June 2012. This represents an increase of 2.85 percent since January. The average employment growth during this period over the past 22 years was 2.05 percent, according to data from the New York State Department of Labor. New York City’s employment grew at a rate above its long-term average in the first twelve months of 2012.
Private-sector employment in New York City, according to the most recent report from the New York State Department of Labor, stands at 3,333,800, which is 3.31 percent higher than in January 2012. The city’s private-sector job gains over the first six months of the year exceeded the long-term average. The average January-to-June increase over the past 22 years is 2.33 percent. Private-sector job gains have been significantly outperforming the long-term average, although the pace of growth has slowed in recent months.
Employment growth in the public sector has been minimal during the first six months of the year. The sector employs only 0.06 percent more people now than it did in January. The total number of people employed in the public sector is now 539,300, according to the New York State Department of Labor. There is typically a weak seasonal period for government hiring between May and June, but the 22-year average gain for the first six months of the year—0.61 percent—remains above this year’s growth.
Sectors outperforming their long-term average growth this year include Retail Trade, Professional and Business Services, and Leisure and Hospitality. Retail grew 2.59 percent this year, compared with the 22-year average growth of 0.52 percent for the same period. Overall, the retail sector employs 328,700 people in the city, according to the latest employment report from the New York State Department of Labor.
Sectors underperforming their long-term average growth this year include Natural Resources, Mining and Construction, Real Estate and Rental and Leasing, and Educational and Health Services. The Natural Resources, Mining and Construction sector grew 5.08 percent this year, while its 22-year average for the same period is 7.56 percent. Overall, the sector employs 107,600 people in New York, according to the most recent employment report from the New York State Department of Labor.
