Economic Research & Analysis

July 2011 Economic Snapshot

Highlights

Private employment rose by 1,000 in May 2011 after an increase of 12,300 jobs in April.
The unemployment rate remained at 8.6 percent between April and May.
The Manhattan hotel occupancy rate in May 2011 was 89.2 percent, down from 91.9 percent in May 2010.
The Manhattan Class A office vacancy rate was 8.3 percent in June 2011, while the average asking rent was $65 PSF.
Passengers in NYC area airports totaled 8.9 million in April 2011, up 4.2 percent from April 2010.

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