Economic Research & Analysis

October 2009 Economic Snapshot

Highlights

Private Employment fell by 5,100 in August, after an increase of 17,900 jobs in July.
The unemployment rate rose to 10.3 percent in August from 9.5 percent in July.
The Manhattan hotel occupancy rate in August 2009 was 88.2 percent, down from 92.8 percent in August 2008.
The Manhattan Class A office vacancy rate was 8.4 percent in September 2009, while the average asking rent was $68 PSF.
Passengers in NYC area airports totaled 10.0 million in July 2009, down 3.7 percent from July 2008.

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