City comptroller announces record job growth

Job growth in the city is rocketing upwards, rising more in the third quarter of 2014 than any quarter since 1990.

City Comptroller Scott Stringer released the jobs report on Thursday, which found private-sector growth was up by 5.4 percent with an estimated 47,000 jobs added.

“Venture capital investment in our region’s burgeoning start-up economy has surged, the real estate market has continued its strong pace and tourism remains on an upswing,” Stringer said. “The City has put another strong quarter in the books as we head to the end of 2014.”

Stringer said jobs are being added faster in New York than the rest of the country, but expressed concern that many of the new positions were for low-wage industries.

“The economic recovery is not reaching the middle class of our city,” Stringer said. “We need to continue to find the on-ramps to opportunity for every New Yorker and emphasize the importance of educating our children so that they can fully participate in the 21st century economy in our own great city.”

The comptroller’s report took into account data such as unemployment rates, job growth, gross city product, real estate, hotel occupancy and public transit numbers.

The report also found housing prices in Manhattan, Brooklyn and Queens kept rising, but the number of sales fell. Manhattan hotel occupancy was at nearly 93 percent during the quarter, and over 3 million people attended Broadway shows — nearly 13 percent more than the third quarter of 2013.

The full report is available here.