Private sector jobs in New York City fell by 602,700 over-the-year to 3,437,600 in August 2020. Losses were widespread and occurred in leisure and hospitality (-231,100), professional and business services (-106,700), trade, transportation, and utilities (-91,500), educational and health services (-61,200), other services (-34,900), financial activities (-31,900), natural resources, mining, and construction (-21,700), manufacturing (-12,200), and information (-11,500).
Although still 14.9 percent below year-ago levels, the labor market data for August reflect a limited resumption of economic activity that had been curtailed earlier in the year due to the coronavirus (COVID-19) pandemic and efforts to contain it. The city's private sector rate of change (-14.9 percent) compares to a 13.2 percent drop for the state and a 7.5 percent decline for the nation.
The city's seasonally adjusted unemployment rate was 16.0 percent in August 2020, a decrease of 3.9 percent from July and a rise of 12.2 percent from August 2019. New York State's rate was 12.5 percent in August 2020. The share of the city's working age population (16+) who were employed was 50.1 in August.
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