Economic Research & Analysis

April 2009 Economic Snapshot

Highlights

Private Employment fell by 18,200 in February, after an increase of 4,000 jobs in January.
The unemployment rate rose to 8.1 percent in February from 6.9 percent in January.
The Manhattan hotel occupancy rate in February 2009 was 65.8 percent, down from 81.2 percent in February 2008.
The Direct Class A office vacancy rate was 6.7 percent in March 2009, while the average asking rent was $82 PSF.
Passengers in NYC area airports totaled 7.2 million in January 2009, down 10.5 percent from January 2008.

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