Archives of the Mayor's Press Office

FOR IMMEDIATE RELEASE
Date: Thursday, December 16, 1999

Release #487-99

Contact: Sunny Mindel/Curt Ritter 212/788-2958



MAYOR GIULIANI ANNOUNCES THAT THE CITY HAS SURPASSED LAST YEAR'S RECORD PRIVATE SECTOR JOB GROWTH

With Over 80,000 Jobs Created Since January, 1999 Marks Strongest Year On Record

Unemployment Falls To 6.4% -- Lowest Level Since Early 1990s

Mayor Rudolph W. Giuliani today announced that, according to employment figures released by the New York State Department of Labor, New York City has surpassed last year's record private sector job growth, with the addition of 8,800 new private sector jobs in November. Since January of this year the City has created more than 80,000 jobs surpassing last year's record year, when the City created 77,400 private sector jobs. In addition, the City's unemployment rate fell to 6.4% - from 6.8% in October, the lowest level since April 1990. The City's unemployment rate is down almost four percentage points since December 1993, when unemployment was 10.2 percent.

"This is great news for New York City," said Mayor Giuliani. "The release of today's numbers sets a new record in private sector job growth for the City, breaking last year's record job growth, when the City created 77,400 new private sector jobs. These latest figures confirm the strength of our City's economy and its ability to create jobs. Since December 1993 the City has created 361,000 new jobs, and today's news further proves that the City's economic renaissance has no intention of slowing down. In addition to breaking last year's record, the City's unemployment rate has dropped to 6.4 percent - the lowest level since the early 1990s. These numbers once again confirm that New York is the City people throughout the world turn to for leadership as the Capital of the World."

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