Private sector jobs in New York City rose over the year by 79,500, or 2.1 percent, to 3,956,100 in May 2018. Gains were greatest in educational and health services (+35,600), professional and business services (+15,800), leisure and hospitality (+8,800), natural resources, mining and construction (+8,000), trade, transportation and utilities (+6,500), financial activities (+4,400), and other services (+2,700). Manufacturing was the only sector to lose at least 500 jobs (-1,900).
The city’s over-the-year picture remained positive, with seven sectors adding jobs for the 12 months through May 2018 while the manufacturing and information sectors lost jobs. The city’s over-the-year private sector growth rate (+2.1 percent) was above the comparable rate for the state (+1.4 percent) and the nation (+1.9 percent).
The city’s seasonally-adjusted unemployment rate was 4.2 percent in May 2018, down 0.1 of a percentage point from April and 0.4 of a percentage point from May 2017. New York State’s rate was 4.5 percent in May 2018. The share of the city’s working age population (16+) who were employed was 58.3 percent in May 2018.
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