Persistence of high unemployment in New York City during the recent economic recovery

March 06, 2014

Over the past 22 years, New York City experienced periods of strong over-the-year job growth associated with substantial reductions in its unemployment rate. The city also experienced periods of strong over-the-year job growth coupled with persistent high unemployment, as was the case during its most recent period of economic recovery.

Unemployment rate and over-the-year change in employment, New York City, seasonally adjusted, August 1991–August 2013

Unemployment rate and over-the-year change in employment, New York City, seasonally adjusted, August 1991–August 2013
MonthUnemployment rate (in percent)Over-the-year change in employment (in percent)

Aug 1991

8.8-6.1

Sep 1991

8.9-6.0

Oct 1991

9.1-5.1

Nov 1991

9.5-5.0

Dec 1991

9.8-5.1

Jan 1992

10.1-3.8

Feb 1992

10.4-3.8

Mar 1992

10.7-3.7

Apr 1992

10.9-3.3

May 1992

11.1-3.2

Jun 1992

11.3-3.2

Jul 1992

11.5-2.2

Aug 1992

11.5-2.2

Sep 1992

11.5-2.3

Oct 1992

11.5-2.1

Nov 1992

11.5-2.1

Dec 1992

11.4-1.6

Jan 1993

11.3-1.0

Feb 1993

11.2-0.5

Mar 1993

10.9-0.6

Apr 1993

10.6-0.4

May 1993

10.3-0.2

Jun 1993

10.10.1

Jul 1993

10.00.9

Aug 1993

9.90.7

Sep 1993

9.90.5

Oct 1993

9.91.0

Nov 1993

9.91.3

Dec 1993

10.01.3

Jan 1994

10.00.9

Feb 1994

9.90.9

Mar 1994

9.71.2

Apr 1994

9.51.1

May 1994

9.21.2

Jun 1994

8.91.0

Jul 1994

8.70.7

Aug 1994

8.40.8

Sep 1994

8.10.7

Oct 1994

7.91.0

Nov 1994

7.71.0

Dec 1994

7.60.9

Jan 1995

7.70.9

Feb 1995

7.80.8

Mar 1995

8.00.6

Apr 1995

8.20.6

May 1995

8.30.5

Jun 1995

8.30.5

Jul 1995

8.30.5

Aug 1995

8.30.6

Sep 1995

8.30.6

Oct 1995

8.30.2

Nov 1995

8.30.3

Dec 1995

8.40.3

Jan 1996

8.5-0.2

Feb 1996

8.70.6

Mar 1996

8.80.6

Apr 1996

8.90.7

May 1996

8.91.0

Jun 1996

8.81.2

Jul 1996

8.70.9

Aug 1996

8.61.1

Sep 1996

8.71.2

Oct 1996

8.81.5

Nov 1996

9.11.4

Dec 1996

9.41.5

Jan 1997

9.72.3

Feb 1997

9.91.5

Mar 1997

9.91.9

Apr 1997

9.91.9

May 1997

9.91.7

Jun 1997

9.71.7

Jul 1997

9.62.6

Aug 1997

9.32.4

Sep 1997

9.12.6

Oct 1997

8.82.5

Nov 1997

8.72.4

Dec 1997

8.62.6

Jan 1998

8.52.5

Feb 1998

8.52.6

Mar 1998

8.42.5

Apr 1998

8.22.5

May 1998

8.02.6

Jun 1998

7.82.6

Jul 1998

7.72.3

Aug 1998

7.72.6

Sep 1998

7.72.2

Oct 1998

7.62.3

Nov 1998

7.52.6

Dec 1998

7.42.4

Jan 1999

7.33.0

Feb 1999

7.12.9

Mar 1999

7.02.7

Apr 1999

7.02.6

May 1999

7.02.3

Jun 1999

7.02.5

Jul 1999

7.02.6

Aug 1999

6.92.7

Sep 1999

6.82.1

Oct 1999

6.62.5

Nov 1999

6.42.6

Dec 1999

6.22.6

Jan 2000

6.12.4

Feb 2000

6.12.4

Mar 2000

6.02.6

Apr 2000

6.03.3

May 2000

5.93.6

Jun 2000

5.83.2

Jul 2000

5.72.9

Aug 2000

5.72.0

Sep 2000

5.63.2

Oct 2000

5.52.7

Nov 2000

5.52.4

Dec 2000

5.42.4

Jan 2001

5.42.0

Feb 2001

5.31.6

Mar 2001

5.31.4

Apr 2001

5.30.3

May 2001

5.4-0.2

Jun 2001

5.5-0.4

Jul 2001

5.8-0.2

Aug 2001

6.10.1

Sep 2001

6.5-1.4

Oct 2001

6.9-3.8

Nov 2001

7.3-3.9

Dec 2001

7.6-4.2

Jan 2002

7.8-4.4

Feb 2002

8.0-4.1

Mar 2002

8.1-4.1

Apr 2002

8.1-3.7

May 2002

8.1-3.3

Jun 2002

8.0-3.3

Jul 2002

7.9-3.7

Aug 2002

7.9-3.5

Sep 2002

7.9-2.8

Oct 2002

8.1-0.7

Nov 2002

8.3-0.7

Dec 2002

8.4-0.6

Jan 2003

8.5-0.7

Feb 2003

8.5-1.1

Mar 2003

8.4-1.3

Apr 2003

8.4-1.5

May 2003

8.3-1.7

Jun 2003

8.3-1.8

Jul 2003

8.3-1.8

Aug 2003

8.3-1.9

Sep 2003

8.2-1.3

Oct 2003

8.2-1.2

Nov 2003

8.1-1.1

Dec 2003

8.0-1.1

Jan 2004

7.9-0.9

Feb 2004

7.8-0.6

Mar 2004

7.6-0.1

Apr 2004

7.50.0

May 2004

7.40.3

Jun 2004

7.20.7

Jul 2004

7.00.9

Aug 2004

6.81.1

Sep 2004

6.60.8

Oct 2004

6.41.0

Nov 2004

6.21.0

Dec 2004

6.11.0

Jan 2005

6.01.5

Feb 2005

5.91.3

Mar 2005

5.81.1

Apr 2005

5.71.7

May 2005

5.71.4

Jun 2005

5.61.3

Jul 2005

5.71.6

Aug 2005

5.71.5

Sep 2005

5.81.9

Oct 2005

5.81.4

Nov 2005

5.81.7

Dec 2005

5.71.9

Jan 2006

5.51.6

Feb 2006

5.41.6

Mar 2006

5.31.9

Apr 2006

5.21.7

May 2006

5.21.9

Jun 2006

5.11.9

Jul 2006

5.01.6

Aug 2006

4.81.4

Sep 2006

4.71.6

Oct 2006

4.62.1

Nov 2006

4.62.0

Dec 2006

4.62.2

Jan 2007

4.62.3

Feb 2007

4.72.4

Mar 2007

4.72.2

Apr 2007

4.81.9

May 2007

5.01.9

Jun 2007

5.12.0

Jul 2007

5.12.1

Aug 2007

5.12.3

Sep 2007

5.12.1

Oct 2007

5.02.2

Nov 2007

4.92.1

Dec 2007

4.81.8

Jan 2008

4.72.0

Feb 2008

4.71.9

Mar 2008

4.71.8

Apr 2008

4.82.0

May 2008

5.02.0

Jun 2008

5.21.7

Jul 2008

5.41.6

Aug 2008

5.61.6

Sep 2008

5.91.3

Oct 2008

6.20.7

Nov 2008

6.60.2

Dec 2008

7.0-0.2

Jan 2009

7.5-1.1

Feb 2009

8.0-1.7

Mar 2009

8.4-2.2

Apr 2009

8.8-3.2

May 2009

9.1-3.2

Jun 2009

9.4-3.3

Jul 2009

9.7-2.7

Aug 2009

9.9-3.1

Sep 2009

10.0-3.5

Oct 2009

10.0-3.2

Nov 2009

10.0-2.9

Dec 2009

10.0-2.5

Jan 2010

10.0-1.9

Feb 2010

10.0-1.4

Mar 2010

9.9-0.6

Apr 2010

9.80.6

May 2010

9.71.1

Jun 2010

9.61.2

Jul 2010

9.50.0

Aug 2010

9.40.3

Sep 2010

9.31.1

Oct 2010

9.21.6

Nov 2010

9.11.8

Dec 2010

9.01.8

Jan 2011

8.92.0

Feb 2011

8.82.2

Mar 2011

8.82.1

Apr 2011

8.82.2

May 2011

8.81.6

Jun 2011

9.01.7

Jul 2011

9.12.9

Aug 2011

9.22.9

Sep 2011

9.32.9

Oct 2011

9.32.4

Nov 2011

9.32.5

Dec 2011

9.42.4

Jan 2012

9.42.3

Feb 2012

9.42.4

Mar 2012

9.42.5

Apr 2012

9.42.2

May 2012

9.52.4

Jun 2012

9.42.4

Jul 2012

9.41.9

Aug 2012

9.32.2

Sep 2012

9.12.5

Oct 2012

9.02.2

Nov 2012

8.91.5

Dec 2012

8.82.0

Jan 2013

9.12.2

Feb 2013

9.11.6

Mar 2013

8.91.6

Apr 2013

8.41.9

May 2013

8.31.8

Jun 2013

8.41.9

Jul 2013

8.41.8

Aug 2013

8.61.6

The most recent upturn in New York City payroll employment began in April 2010. Until October 2010, over-the-year job growth was relatively modest, remaining below 1.5 percent. From October 2010 until August 2013, the over-the-year change in employment ranged from a high of 2.9 percent to a low of 1.5 percent. Over that period, the unemployment rate averaged 9.0 percent. This period of strong job growth with persistent high unemployment was not unprecedented, as strong job growth and high unemployment were also experienced from December 1996 to May 1998. Over that period, the unemployment rate averaged 9.1 percent.

From August 2010 to August 2013, the employment-population ratio for New York City fluctuated in a narrow range (around 54.3 percent), slightly above its low for the most recent recession. Over this period, the labor force participation rate remained within 0.5 percentage point of 59.6 percent, considered to be relatively high for New York City. The persistence of high unemployment during that timespan reflects the persistence of the near-recessionary level of the employment-population ratio combined with a relatively high unemployment rate.

These data come from the Current Employment Statistics (State and Metropolitan Area) and Local Area Unemployment Statistics programs. The employment-population ratio is the proportion of the civilian noninstitutional population 16 years of age and over with a job. For more information, see the Beyond the Numbers article, "Persistence of a high unemployment rate in New York City during the recent recovery," by Martin Kohli, February 2014.  

SUGGESTED CITATION

Bureau of Labor Statistics, U.S. Department of Labor, The Editor's Desk, Persistence of high unemployment in New York City during the recent economic recovery on the Internet at http://www.bls.gov/opub/ted/2014/ted_20140306.htm (visited July 29, 2014).

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