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Hiring Surges in NYC, But Lags Regionally

Thursday, May 17, 2012

New York City added an "eye-popping" number of jobs last month, according an analysis of monthly employment data.

The city gained a seasonally-adjusted 10,200 jobs in April, said economist Barbara Byrne Denham of the real estate firm Eastern Consolidated. The city's four-month job tally is even more impressive: a whopping 60,000 positions gained.

"The historic statistics show that New York has not enjoyed a four-month streak of this magnitude since the 1950s," Denham wrote.

Notably, two of the sectors that have shed the most workers in the past few years are now hiring again: construction and manufacturing. 

The jobless rate in the five boroughs declined two-tenths of a percent last month, to 9.5 percent.

But elsewhere in our region, the jobs situation is not improving so fast. New York State added just 700 jobs in April, and the unemployment rate held steady at 8.5 percent.

In New Jersey, job growth was mild, with employers adding a net 2,600 positions. Healthcare and professional services added jobs, while manufacturing, construction, and local government positions disappeared.

Unemployment in New Jersey rose from 9 percent to 9.1 percent.

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