New York City Economic Summary
Updated June 28, 2017
This summary presents a sampling of economic information for the area; supplemental data are provided for regions
and the nation. Subjects include unemployment, employment, wages, prices, spending, and benefits. All data are
not seasonally adjusted and some may be subject to revision. Area definitions may differ by subject. For more area
summaries and geographic definitions, see www.bls.gov/regions/economic-summaries.htm.
Unemployment rates for the New York City,
selected area counties, and the nation
Average weekly wages for all industries by county
New York City, 4th quarter 2016
(U.S. = $1,067; Area = $1,442)
Unemployment rates
4.5
United States
4.1
4.6
New York City
4.2
6.4
Bronx Co.
5.7
4.8
Kings Co.
4.3
4.0
New York Co.
3.8
4.0
Queens Co.
0.0
3.7
2.0
4.0
6.0
8.0
May-16
May-17
Source: U.S. BLS, Local Area Unemployment Statistics.
Source: U.S. BLS, Quarterly Census of Employment and Wages.
Over-the-year changes in employment on nonfarm payrolls and employment by major industry sector
12-month percent changes in employment
Percent
New York City employment
(numbers in thousands)
4.0
3.5
3.0
2.5
2.0
1.5
1.0
0.5
0.0
May-14
New York City
May-15
United States
May-16
Source: U.S. BLS, Current Employment Statistics.
May-17
Total nonfarm
Mining, logging, and construction
Manufacturing
Trade, transportation, and utilities
Information
Financial activities
Professional and business services
Education and health services
Leisure and hospitality
Other services
Government
Change from May
May 2017
2016 to May 2017
Number
Percent
85.0
3.6
-2.5
-3.1
6.0
3.8
23.6
31.7
14.3
5.9
1.7
2.0
2.5
-3.3
-0.5
3.3
0.8
3.3
3.4
3.2
3.1
0.3
4,418.8
149.9
74.2
622.7
190.6
468.2
739.7
967.6
456.6
193.9
555.4
Source: U.S. BLS, Current Employment Statistics.
• www.bls.gov/ro6
Over-the-year changes in the selling prices received by
producers for selected industries nationwide
Over-the-year change in the prices paid by urban
consumers for selected categories
12-month percent change in CPI-U, May 2017
12.0
New York area
U.S. city average
10.0
Percent
25.0
9.9
15.0
6.0
10.0
5.4
5.0
4.0
0.0
General freight trucking
Hospitals
Television broadcasting
20.0
8.0
2.0
12-month percent changes in PPI
1.8
1.9
1.3
All Items
0.0
0.9
Food
-5.0
Energy
-10.0
May-14
Source: U.S. BLS, Consumer Price Index.
Average annual spending and percent distribution for
selected categories
New York area average annual expenditures 2014-15
May-15
May-16
Average hourly wages for selected occupations
Occupation
New York
area
Total, all occupations
All other
$11,359
18.1%
Housing
$24,879
39.6%
Healthcare
$4,146
6.6%
Personal
insurance &
pensions
$7,543
12.0%
Food
$6,943
11.0%
Transportation
$8,002
12.7%
Total:
$62,872
Employer costs per hour worked for wages and
selected employee benefits by geographic division
Total compensation
Wages and salaries
Total benefits
Paid leave
Vacation
Supplemental pay
Insurance
Retirement and savings
Legally required benefits
United
States
$29.71
$23.86
Lawyers
80.75
67.25
Dentists, general
77.58
83.59
Financial analysts
62.64
46.94
Accountants and auditors
46.47
36.89
Advertising sales agents
44.56
30.61
Computer programmers
43.98
40.95
Registered nurses
41.75
34.70
Construction laborers
24.73
18.22
Taxi drivers and chauffeurs
16.02
12.88
Retail salespersons
13.40
13.07
Sewing machine operators
12.44
12.42
Cooks, fast food
10.85
9.89
Source: U.S. BLS, Occupational Employment Statistics, May 2016.
Source: U.S. BLS, Consumer Expenditure Survey.
Private industry, March 2017
May-17
Source: U.S. BLS, Producer Price Index.
Middle
Atlantic (1)
$41.55
27.21
14.34
3.10
1.56
2.97
3.37
1.76
3.15
(1) Middle Atlantic includes NJ, NY, and PA.
Source: U.S. BLS, Employer Costs for Employee Compensation.
United
States
$33.11
23.06
10.06
2.30
1.18
1.17
2.65
1.34
2.60
Over-the-year changes in wages and salaries
Percent
3.5
12-month percent changes in ECI
3.0
2.5
2.0
1.5
1.0
0.5
0.0
Mar-14
New York area
Mar-15
United States
Mar-16
Source: U.S. BLS, Employment Cost Index.
New York-New Jersey Information Office • [email protected] • https://www.bls.gov/regions/new-york-new-jersey • 646-264-3600
Mar-17