Private sector employment in New York City rose by 97,100, or 2.8 percent, to 3,530,400 for the 12-month period ending June 2014. Job growth occurred in education and health services (+38,600), leisure and hospitality (+17,000), professional and business services (+16,300), trade, transportation, & utilities (+16,000), construction (+4,700), financial activities (+3,600), and other services (+3,100). Manufacturing was relatively unchanged over-the-year while information lost 2,900 jobs. Government employment declined by 2,800 over-the-year.
New York City’s private sector job count rose by 25,800 between May and June (not seasonally adjusted), which was a significantly larger than usual gain. The leisure and hospitality sector, which usually does well in June, was a very strong performer, gaining more than 10,000 jobs, where an increase of approximately 2,200 is more usual. Some of these gains reflected purely seasonal factors, as catering operations resumed at the various major and minor league baseball stadiums, and as the soccer World Cup pulled in additional diners.
The NYC over-the-year picture was positive, with eight out of nine sectors adding jobs for the 12 months through June 2014. The education and health care both added the most jobs (+38,600) and grew the fastest (+4.8 percent). The city’s over-the-year private sector growth rate (+2.8 percent) was above the state’s (+1.8 percent) and the nation’s (+2.2 percent).
The city’s seasonally-adjusted unemployment rate was 7.9 percent in June 2014, unchanged from May but down 0.9 of a percentage point from last June. New York State’s rate was 6.6 percent in June 2014. The share of the city's working-age population (16+) who were employed was 55.9 percent in June 2014, up a full percent from the same time last year and the highest level since November 2008. The number of New York City residents with jobs climbed 102,200 (2.8%) in the last 12 months.
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