Economic Research & Analysis

July 2009 Economic Snapshot

Highlights

Private Employment fell by 3,200 in May, after an increase of 800 jobs in April.
The unemployment rate rose to 9.0 percent in May from 8.0 percent in April.
The Manhattan hotel occupancy rate in May 2009 was 84.0 percent, down from 89.5 percent in May 2008.
The Manhattan Overall office vacancy rate was 7.6 percent in June 2009, while the average asking rent was $66 PSF.
Passengers in NYC area airports totaled 8.7 million in April 2009, down 4.9 percent from April 2008.

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