New York Job Growth Drops Sharply in September Bureau Figures Show
Employment gains in the New York metropolitan area fell by more than half in September due to significant losses in the hospitality sector.
FTMQ Real Estate, written by our newsroom0 views
The New York metropolitan area dropped from first to fifth place among top major metropolitan areas for employment growth in September, the RealPage Blog reported. Figures from the Bureau of Labor Statistics show the market added 24,100 net new jobs during the month. This represents a steep decline from August, when the market added a revised annual total of 55,400 jobs. [1]
The RealPage Blog reported that the primary driver of the slowdown was a sharp decline in specific employment categories. The New York metropolitan market lost 16,300 jobs in the leisure and hospitality sector during September. [1]
New York City is the most populous city in the United States and serves as the geographical and demographic center of the New York metropolitan area. The city consists of five boroughs, which include Manhattan, Brooklyn, Queens, the Bronx, and Staten Island. [2]
Regional labor trends remain closely watched across neighboring real estate markets in the Northeast. As FTMQ Real Estate reported earlier, single-family home sales in nearby Massachusetts rose 4.8 percent statewide in September despite tighter overall inventory. [3]
In short
- New York added 24,100 jobs in September compared to 55,400 in August.
- The New York metropolitan market lost 16,300 leisure and hospitality jobs in September.
- New York fell from first to fifth place among RealPage top 10 metros for job gains.
Sources
Every paragraph above points to the numbered items it rests on. Read the originals here.
- [1]New York Job Gains Drop SharplyRealPage Blog, 11d ago (the report this story comes from)
Background
- [2]New York City on Wikipedia
- [3]Milford Home Sales Surge 46 Percent as Median Prices Drop FTMQ Real Estate, 14d ago
Our newsroom writes these reports with the help of software, from the 3 sources listed and nothing else, and checks them against those sources. Facts can still be wrong or move on; the originals are the record. Spotted a mistake? Write to daniel@monsterkong.com.
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