Economic Research & Analysis

August 2011 Economic Snapshot

Highlights

Private employment rose by 3,600 in June 2011 after an increase of 1,100 jobs in May.
The unemployment rate rose to 8.7 percent in June from 8.6 percent in May.
The Manhattan hotel occupancy rate in June 2011 was 88.8 percent, down from 89.9 percent in June 2010.
The Manhattan Class A office vacancy rate was 8.4 percent in July 2011, while the average asking rent was $65 PSF.
Passengers in NYC area airports totaled 9.4 million in May 2011, up 5.1 percent from May 2010.

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