Economic Research & Analysis

November 2010 Economic Snapshot

Highlights

Private Employment fell by 17,300 in September 2010, after an increase of 8,700 jobs in August.
The unemployment rate fell to 9.3 percent in September from 9.4 percent in August 2010.
The Manhattan hotel occupancy rate in September 2010 was 88.3 percent, down from 89.0 percent in September 2009.
The Manhattan Class A office vacancy rate was 8.9 percent in October 2010, while the average asking rent was $64 PSF.
Passengers in NYC area airports totaled 10.2 million in August 2010, up 0.7 percent from August 2009.

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#03 NYC: Fewer People Looking For Work

In the past two months, the decrease in the unemployment rate was due to a decrease in the number of people looking for work.

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