Private sector employment in New York City rose by 95,900, or 2.7 percent, to 3,602,600 for the 12-month period ending December 2014. Jobs grew in professional and business services (+30,700), education and health services (+29,800), leisure and hospitality (+19,500), trade, transportation and utilities (+9,100), other services (+7,600), financial activities (+4,100), and construction (+2,300). Employment in the information sector decreased by 5,600 while manufacturing employment dropped by 1,600 compared to last December. Government employment declined by 1,300 over-the-year.
The City’s over-the-year picture was positive, with seven sectors adding jobs and two sectors losing jobs for the 12 months through December 2014. Professional and business services added the most jobs (+30,700), but employment grew the fastest in leisure and hospitality (+5.1 percent). The city’s over-the-year private sector growth rate (+2.7 percent) was above the state’s (+1.5 percent) and the nation’s (+2.5 percent).
The city’s seasonally-adjusted unemployment rate was 6.3 percent in December 2014, unchanged from November but down 1.7 percentage points from last December. New York State’s rate was 5.8 percent in December 2014. The share of the city's working-age population (16+) who were employed was 56.5 percent in December 2014, up 1.5 percentage points from the same time last year. The number of New York City residents with jobs climbed 129,600 (+3.5 percent) in the last 12 months. The over-the-year decline in the unemployment rate occurred even as New York City’s labor force grew by 1.6 percent.
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