Economic Research & Analysis

August 2009 Economic Snapshot

Highlights

Private Employment fell by 4,500 in June, after a decrease of 3,700 jobs in May.
The unemployment rate rose to 9.5 percent in June from 8.9 percent in May.
The Manhattan hotel occupancy rate in June 2009 was 86.9 percent, down from 89.5 percent in June 2008.
The Manhattan Class A office vacancy rate was 8.1 percent in July 2009, while the average asking rent was $70 PSF.
Passengers in NYC area airports totaled 8.7 million in May 2009, down 8.3 percent from May 2008.

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