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City's Unemployment Rate Drops to Lowest Point in Several Years

by Connor Ryan
Store in New York City.

jaimelondonboy, flickr

New York City unemployment rate falls to its lowest point in four years. The number of private-sector jobs is at an all-time high.

As hiring has increased, the unemployment rate in New York City dropped to 8.4 percent last month — the lowest it has been in four years, according to a State Labor Department report released Thursday. In March, the rate of unemployment in the city was 8.9 percent and in April of 2012 it was 9.4.

Additionally, private-sector employment in the city improved by 82,100 jobs over the course of the past year, according to the report. New York State added 23,800 private-sector jobs in April of this year, according to the report. As a result, the state has reached an all-time high of private-sector jobs with 7,452,100 recorded last month.

While Mayor Michael Bloomberg spoke optimistically about the city's low unemployment rate, he called to mind those who continue to search for jobs.

"We know there is still more work to do, and we are committed to making sure that every New Yorker looking for a job has the chance to find one," Bloomberg said in a statement. "However, today's numbers are further proof that New York City has firmly established itself as a national leader in economic recovery, and our future remains bright."



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