New York City's private sector added 2,000 jobs in December: report - Technical.ly Brooklyn

Civic

Feb. 7, 2018 7:43 am

New York City’s private sector added 2,000 jobs in December: report

The latest report from the New York City Economic Development Corporation finds that unemployment is down and wages are up.

New York City, Dec. 15, 2017.

(Photo by Tyler Woods)

New York City’s private sector added 2,000 jobs in December, according to a new report from the New York City Economic Development Corporation.

The city’s unemployment rate now stands at 4.3 percent, the organization reports, which is slightly higher than the national unemployment rate, which is 4.1 percent, and lower than New York state’s rate, which is 4.7 percent. In December 2016, the city’s unemployment rate was higher, at 4.9 percent.

Workers’ average hourly wage grew a healthy 3 percent from December of 2016, to $35.55.

The growing economic numbers could be in part due to a robust fourth quarter of venture capital investing. According to the NYCEDC’s report, Q4 2017 saw $3.3 billion dollars change hands in 260 venture deals. The $3.3 billion is the second highest quarter of venture investment since 2000, topped only by the third quarter of 2017, which saw $5.2 billion invested.

Despite falling unemployment and rising wages, residential rental prices grew just 0.1 percent from December of 2016.

New residential construction slowed seriously. In Brooklyn, it’s down 44 percent from its December 2016 level.

If it’s cheaper to rent an apartment this year, it’s more expensive to rent an office. Commercial real estate rents were up 6.5 percent in the fourth quarter, as compared to the fourth quarter of 2016.

Read the report -30-
LEAVE A COMMENT

Advertisement

BlackRock, ConsenSys and The Yard are hiring at NET/WORK 2018. Will you be there?

New jobs this week at Keemotion, Position Development, uPort

On the Market: 14 jobs at Eyebeam, ConsenSys, Gimlet and goTenna

SPONSORED

Brooklyn

Explore how diverse teams build dynamic products with Dev Bootcamp

Philadelphia

Think Company

Web Developer

Apply Now
Philadelphia

160over90

Full Stack Web Developer

Apply Now
New York

Weedit.Photos

Fashion photo editing job

Apply Now

6 new jobs this week at EEVO, Pensa, Postlight Studio and more

Whole lotta jobs at uPort, Common, Eyebeam, JustFixNYC and more

12 new jobs at StrongArm Technologies, Scripto, CreativeMornings and more

SPONSORED

Brooklyn

Learn from these Brooklyn founders in our Tomorrow Toolkit ebook

WASHINGTON, DC

Nava

Research Lead (DC, SF, NYC)

Apply Now
WASHINGTON, DC

Nava

Designer / Researcher (DC, SF, NYC)

Apply Now
WASHINGTON, DC

Nava

Designer / Frontend Engineer (DC, SF, NYC)

Apply Now

Sign-up for regular updates from Technical.ly

Do NOT follow this link or you will be banned from the site!