NYS DOL Report: NYC Labor Market Briefing – May 2022
The New York City Labor Market Briefing report released at the end of June 2022 by the New York State Department of Labor revealed that in May 2022 private sector employment citywide increased year-over-year by 8.4%. Among the five major sectors Leisure & Hospitality gained 110,600 jobs at the high during the 12-month period, in contrast to 8,800 job gains in the Financial Activities sector at the low; while job gains within the Professional & Business Services, Educational & Health Services, and Information sectors rose 63,000, 47,600, and 18,700 respectively. New York City’s May 2022 unemployment rate (not seasonally adjusted) of 5.7% remained above the statewide rate of 4.1%, with the Bronx having the highest unemployment rate among the five boroughs at 8.0% compared to Manhattan’s 4.4% rate at the low. Unemployment during the same period in Brooklyn, Queens, and Staten Island was 5.8%, 5.4%, and 5.2% respectively.