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AGENCY TESTIMONY
New York City's economic recovery and job growth
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ยท
84 sec
Andrew Kimball presents recent economic statistics and job growth figures for New York City, highlighting the city's strong recovery and positive economic trends.
- New employment record of 4,800,000 jobs and 61.8% labor force participation rate
- One in eight businesses in New York City started in the last twelve months
- Tourism is on track to hit an all-time high in 2025
- Emphasis on the city's energy, vitality, and optimism across various neighborhoods and sectors
Andrew Kimball
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I'm proud to say that in 2024, New York City reached record highs in employment and labor force participation.
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Our economy reached a new employment record with 4,800,000 jobs and a 61.8% labor force participation rate, both all time highs.
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New York City's thriving startup and entrepreneurial ecosystem continues to grow with one in eight businesses in New York City started in the last twelve months.
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This astonishing statistic speaks to the importance of small businesses and entrepreneurs as the backbone of New York City's economy.
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From Sunset Park to the North Shore Of Staten Island, from Hunts Point to Willets Point, and from Midtown Manhattan to Jamaica, Queens, our city is showing its strength and optimism.
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New Yorkers are back at work.
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Our streets and plazas and parks are full of life.
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Our commercial districts exude an energy that you just don't feel in many other cities.
0:06:56
Tourism is back and on track to hit an all time high in 2025.
0:07:01
To bolster the city's economy, we've continued to focus on high wage, high growth sectors, attracted job creating businesses and academic institutions, and made substantial progress in reimagining and revitalizing commercial and industrial districts, driving office space modernization and activation, public realm improvements, industrial innovation, and reactivation of our waterways for commercial uses.