NYC unemployment rate hits 4-year low | Bedford NY Real Estate

New York City’s unemployment rate last month dropped to the lowest level in four years, led by gains in employment and health services, the state Department of Labor said in a monthly report Thursday.

The jobless rate fell to 8.4% in April, compared with 8.9% the previous month, reaching the lowest level since March 2009, the labor department’s seasonally-adjusted figures showed. The city added 16,400 jobs last month, according to seasonally-adjusted numbers provided by Barbara Byrne Denham, chief economist for real estate investment firm Eastern Consolidated.

“It certainly looks like strong private-sector job growth,” said James Parrott, chief economist of the Fiscal Policy Institute. “That’s very positive, and clear.”

About 4,500 new jobs were created in the employment services sector, a sign that job gains will continue in the near future, Ms. Denham said. Employment services includes temporary hiring, which usually lead to permanent positions at the companies where workers are assigned, she said. Employment in the industry has grown 8.6% this year, the most of any sector.

An additional 3,100 jobs were added in health and social services, and the securities industry gained 1,000 positions. All growth took place in the private sector, as the federal and local governments shed 1,700 employees combined.


NYC unemployment rate hits 4-year low | Crain’s New York Business.

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