By Bill Parry
The unemployment rate in the borough has plummeted to 4.6 percent, down from 6.2 percent in the third quarter of 2014, according to an analysis by the city comptroller’s office. Citywide unemployment is down to 5.4 percent, the lowest since 2008.
“The city saw strong job growth in the third quarter and that means more opportunities for the people who make New York City run like bodega employees, teachers and health aides,” Comptroller Scott Stringer said. “To get a clearer picture of the economic trends we looked at job growth in two distinct categories: sectors that rely on the local economy for their development, such as retail and healthcare, which saw strong growth and businesses that rely on clients outside the city, such as accounting and legal services, which are somewhat affected by the national slowdown.”
The report showed the average weekday MTA subway ridership fell 0.2 percent and bus ridership fell 5.2 percent in the third quarter. A rise in income and more taxi rides, including ride sharing services, could explain some of the decline, officials say.
Reach reporter Bill Parry by e-mail at bparr