Press Release

NEW YORK, NY | November 22, 2022 — Nathan Gusdorf, Executive Director of the Fiscal Policy Institute, today released the following statement:

 “Recent data released by the Bureau of Labor Statistics today reveal New York State added 456,000 jobs from June 2021 to June 2022, which represents a 5.1% annual increase — making New York the fifth fastest growing job market in the United States.

“Comptroller DiNapoli’s latest report on New York’s labor force does not include recent strong positive job market trends from 2022. Rather, the Comptroller uses 2021 data as its endpoint — the year after the state’s labor market was pummeled by the pandemic — to draw conclusions about the job market’s current recovery, without reference to more recent positive job growth.”

Background:

• New York State added 456,000 jobs from June 2021 to June 2022 — an annual increase of 5.1%. (Bureau of Labor Statistics, Table 3).
• New York State’s employment gain rate of 5.1% is the fifth fastest growth rate of any state in the U.S. By comparison, U.S. total employment grew by 4.0% over the same time period. (BLS, Table 3)
• Employment growth was especially high in New York City:
• Manhattan employment grew by 8% — the highest of any large county in the United States. (BLS, Table 2)
• Overall New York City employment grew 7.2 percent, reaching 4.33 million in June 2022. (BLS, Table 1)
• Within New York State, leisure and hospitality had the largest employment increase and rose by 78,453, or 45.6%. (BLS, Table 2)