NYC Job Losses

I was actually expecting Chicago to be at the bottom.

But wow...... it's New York City.

More than 89,000 additional people were employed in the Phoenix, Ariz., countywide area in December 2019 compared with a year earlier -- leading all U.S. counties by a wide margin, according to a report from the Bureau of Labor Statistics.

At the other end of the spectrum, the five counties that make up New York City showed the greatest number of job losses based on people who live there. Kings County (Brooklyn) shed 15,204, the biggest drop of any U.S. county. Kings was followed by Queens with a loss of 14,875 jobs. With New York County (Manhattan), Bronx and Richmond added, New York City had 52,120 fewer people employed in December 2019 compared with a year earlier.

It wasn’t all bad news: the NYC metro area outside the city limits gained 97,300 jobs last year, making it one of the faster-growing U.S. regions for employment.

(https://www.bloomberg.com/news/articles/2020-02-05/u-s-metro-area-employment-since-president-trump-took-office)


So basically, positions are transitioning out of NYC..... headed for the suburbs.

I'd love to see this broken-down by industry.  My guess is financial/insurance, restaurant, and retail would make up a huge chunk of the loss...... plus maybe technology.

Oh, and 7-11 managers.


Grace & Peace & Love to you all -

Matt