Economic Research & Analysis

May 2011 Economic Snapshot

Highlights

Private employment rose by 7,000 in March 2011 after an increase of 3,900 jobs in February.
The unemployment rate fell to 8.7 percent in March from 8.9 percent in February.
The Manhattan hotel occupancy rate in March 2011 was 82.9 percent, down from 85.7 percent in March 2010.
The Manhattan Class A office vacancy rate was 8.6 percent in April 2011, while the average asking rent was $65 PSF.
Passengers in NYC area airports totaled 6.6 million in February 2011, up 2.1 percent from February 2010.

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#14 Parsing NYC Job Gains

Private sector jobs in New York City rose by 7,000 in March 2011, particularly in four sectors.

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