Archives of the Mayor's Press Office

FOR IMMEDIATE RELEASE
Date: Thursday, August 16, 2001
Release #293-01

Contact: Sunny Mindel / Peter C. Fenty (212) 788-2958


CITY RELEASES LATEST LABOR FIGURES INDICATING
UNEMPLOYMENT RATE DROPPED TO 5.0% IN JULY

Job Growth In City Declined Only Slightly During Reporting Month

The latest Employment / Unemployment figures released today by the State Department of Labor shows that New York City's unemployment rate moved lower from 5.3% in June to 5.0% (seasonally adjusted) in July. The report also indicated that the City lost 100 private sector jobs during the reporting period, and revised downward the number of private sector jobs lost in June: 7,000 jobs versus the initial, earlier report of 1,100 jobs.

"Job loss has been much more severe in other parts of the country," said Mayor Giuliani. "The City had been successful in bucking the national trend for the better part of the year. It was inevitable that the overall weakening economy would, at some point, affect New York City. Though we have lost jobs, unemployment continues to remain at historically low levels, and the City is in far better shape than the rest of the country."

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