Private sector employment in New York City rose by 104,200, or 3.0 percent, to 3,609,000 for the 12-month period ending March 2015. Jobs grew in educational and health services (+30,200), professional and business services (+26,300), trade, transportation, and utilities (+14,800), leisure and hospitality (+13,700), financial activities (+8,400), other services (+7,100), information (+3,600) and construction (+1,500). Manufacturing (-1,400) was the only sector to lose jobs. Government employment rose by 3,100.
New York City’s private sector job count rose by 23,000 between February and March (not seasonally adjusted), which was a slightly larger than usual gain. Among blue-collar industries, construction rebounded strongly in the month, with a gain of 4,300 jobs, almost twice the figure suggested by the historical averages. A cooler than normal March hindered the leisure and hospitality sector, where the monthly employment gain of 3,200 was 1,800 below the 10-year average. On the positive side, the education sub-sector retraced most of its February losses and increased by 6,500 jobs where a rise of 4,300 is more likely for the month.
The city’s over-the-year picture was positive, with every sector except manufacturing adding jobs for the 12 months through March 2015. The city’s over-the-year private sector growth rate (+3.0 percent) was above comparable rates at the state (+1.9 percent) and national (+2.6 percent) levels.
The city’s seasonally-adjusted unemployment rate was 6.6 percent in March 2015, unchanged from February and 1.2 percentage points compared to a year ago. New York State’s rate was 5.7 percent in March 2015. The share of the city's working-age population (16+) who were employed was 57.0 percent in March 2015, the highest ever. The number of New York City residents with jobs climbed 105,900 (+2.8 percent) in the last 12 months. The over-the-year decline in the unemployment rate occurred even as New York City’s labor force grew by 1.4 percent.
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