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City's Unemployment Rate Falls To Lowest Level In Over 10 Year
Mayor Rudolph W. Giuliani announced today that, according to employment figures released by the New York State Department of Labor, New York City's private sector job growth remains strong with the creation of 9,400 new private sector jobs in April.
This follows the gain of 20,000 new private sector jobs in the first three months of 2000. Since January 1994 the City has created almost 395,000 new private sector jobs, a dramatic reversal after the City's loss of 348,000 jobs in the early 1990s.
In addition, the Mayor also noted that the City's unemployment rate fell to 5.8% -- from 6.1% in March, the lowest rate in over 10 years. The City's unemployment rate is down more than four percentage points since December 1993, when unemployment was 10.2%.
"With the creation of 9,400 private sector jobs last month, New York City is on pace for another record year in job creation," said Mayor Giuliani. "Our efforts to create new jobs is more great news for our City's economy and further proof that New York City's economic renaissance remains strong. And in addition to this great news, the City's unemployment rate is now at a 10-year low."
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