Contact: Colleen Roche/Curt Ritter (212) 788-2958
"This is more great news for our City," said Mayor Giuliani. "The creation of more than 21,000 jobs in January -- the largest one-month gain in almost three years -- shows that our City's economic resurgence is not slowing down. In addition to this continued record job growth, our unemployment has dropped to the lowest rate since the early 1990's and we have now made up 99 percent of the jobs lost in the last recession. Today's news further shows that New York City continues to be a leader in job creation and an example to other cities throughout the Nation."
The 1997 and 1998 private employment gains were revised to 67,100 and 77,400 jobs from a previously reported 63,100 and 84,300. These revisions make 1997 and 1998 two record years for New York City private employment gains in the nearly 50 years that data have been reported, surpassing the previous record year of 1956 when 65,600 private sector jobs were created.