New york city recession




















In the figures based on establishment reports, persons who worked in more than one establishment during the reporting period are counted each time their names appear on payrolls. The household survey includes among the employed all civilians who had jobs but were not at work during the reference week—that is, were not working but had jobs from which they were temporarily absent because of illness, vacation, bad weather, child care problems, labor-management disputes, or because they were taking time off for various other reasons, even if they were not paid by their employers for the time off.

In the figures based on payroll reports, persons on leave paid for by the company are included, but those on leave without pay for the entire payroll period are not. The household survey measures the earnings of wage and salary workers in all occupations and industries in both the private and public sectors.

Data from the establishment survey generally refer to average earnings of production and related workers in mining and manufacturing, construction workers in construction, and nonsupervisory employees in private service-producing industries.

This series measures the jobs where they occur, not who is working at them. In order to estimate residents and commuters we have relied on an additional data set. The American Community Survey ACS surveys households and, among other information, asks where the household members are working. The ACS allows the identification of both commuters coming into the City to work in-commuters and City residents commuting outside out-commuters.

The ACS data is benchmarked every ten years and comparing a year in one decade with a year in another decade could be misleading. So, to create continuity in the data, we calculate the percent of the commuters in each industry and then multiply those factors to CES data for each respective industry.

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You may also subscribe to other newsletters from the New York City Comptroller's Office to receive the latest news and anlysis about pressing New York City issues and events. Key Findings New York City was not as severely impacted by the Great Recession as the rest of the nation, and has had a strong recovery. Self-employment has grown during the recovery, particularly in certain sectors.

The unemployment rate remains above its pre-recession level for older workers, but has declined dramatically for workers without a high-school diploma, males, and Hispanics.

Chart 1. More Lower-Paying Jobs Created in the Recovery Table 1 shows how different industries in the City performed in terms of job losses and gains during the last recession and the subsequent recovery. Table 1. Table 2. NOTE: See footnote 2 for wage level definitions. Chart 2. Commuters and Employment New York City, as the major Mid-Atlantic metropolis, provides opportunities for employment from residents of neighboring communities.

Table 3. NYC Commuters by Industry, vs. Self-Employment Somewhat over 11 percent of City residents are self-employed. Table 4. NOTE: Private sector employment only. See Appendix for methodology. Chart 3. Chart 4. Gains Not Evenly Distributed Broadly speaking, employment statistics point to a milder recession and a stronger and more vibrant expansion in New York City than in the nation as a whole.

Table 5. Table 6. Broader Definitions of Un- and Under-employment Looking beyond the commonly-cited official unemployment rate reveals other important dynamics in the labor market, including measures of underemployment such as people working part-time who would prefer to work full-time, and those who stopped looking for work out of discouragement over their job prospects. Table 7. Table 8. Table 9. U-6 Rate of Unemployment by Ethnicity Total 8. Establishment Series Statistics on nonagricultural employment, hours of work, and earnings are compiled from two major sources: household interviews and reports from employers.

Employment coverage The household survey definition of employment comprises wage and salary workers including domestics and other private household workers , self-employed persons, and unpaid workers who worked 15 hours or more during the reference week in family-operated enterprises.

Multiple jobholding The household survey provides information on the work status of the population without duplication, since each person is classified as employed, unemployed, or not in the labor force. Unpaid absences from jobs The household survey includes among the employed all civilians who had jobs but were not at work during the reference week—that is, were not working but had jobs from which they were temporarily absent because of illness, vacation, bad weather, child care problems, labor-management disputes, or because they were taking time off for various other reasons, even if they were not paid by their employers for the time off.

Earnings The household survey measures the earnings of wage and salary workers in all occupations and industries in both the private and public sectors. Ehrenhalt, the regional commissioner of labor statistics, said yesterday. Ehrenhalt gave that encouraging assessment of the city's job situation in reporting that the unemployment rate for the city was 7.

The seasonally adjusted rate for the entire United States, by contrast, rose from 5. There were , people unemployed in the city last month, down from ,, or 8. Over the year, he said, the average unemployment rate of 8. State Jobless Rate Edges Up. He pointed out, however, that the city continued to have a jobless rate above the nation's seasonally adjusted figure of 7. Further, he said, the proportion of the city's working age population employed was The City has not sufficiently taken advantage of the long recovery to plan for inevitable economic downturn.

Taking action now allows a more thoughtful and analytic approach that can minimize negative impacts on New Yorkers. This is the right first step, but would only reduce the cumulative three-year gap by 7. Like what you're reading? Subscribe to our e-alerts to stay up-to-date on new publications and the latest insights from CBC!

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