Real estate sector sees 300 new jobs in May

New York /
Jun.June 22, 2010 12:15 PM

While the New York City real estate sector gained 300 jobs in May, according to the Eastern Consolidated monthly unemployment report, the construction industry (which is in its own class in the Eastern report) is continuing to suffer, losing 2,000 jobs month-over-month. The precipitous drop comes on the heels of ongoing instability in the construction sector — the industry has lost a total of 900 jobs so far in 2010, a .8 percent decline.

The real estate industry, meanwhile, has shown marked improvement in New York City since the end of 2009. Eastern ranks the field among the top job-creating industries in New York City so far in 2010, coming in just below banking, with 3,600 new positions created. The growth marks a 3 percent increase in the number of jobs since the beginning of the year.

Overall, New York City added 5,000 new private sector jobs last month, according to the report. The total job growth for the city was 22,800 — although the report noted that the number was skewed by temporary census hiring.
— Amy Tennery

 

Related Articles

arrow_forward_ios
Eli Weiss and a rendering of 3875 9th Avenue
Developers land $414M for Inwood project after waiting out rezoning fight
Developers land $414M for Inwood project after waiting out rezoning fight
Redeemer’s Timothy Keller and 150 East 91st Street (Getty, Google Maps, Redeemer)
Redeemer Presbyterian’s UES development plans vex co-op residents
Redeemer Presbyterian’s UES development plans vex co-op residents
275 Atlantic Avenue (Illustration by Kevin Cifuentes for The Real Deal with Getty Images, Thomson200/CC0/via Wikimedia Commons)
Brooklyn leads NYC in demolition permits — by a wide margin
Brooklyn leads NYC in demolition permits — by a wide margin
Rinaldi Group’s Robert Baselice (Getty, LinkedIn/Robert Baselice)
Kickback city: Rinaldi exec accused of fleecing developers
Kickback city: Rinaldi exec accused of fleecing developers
Urban Umbrella's Benjamin Krall with 500 Main Street (Getty, Loopnet, Crunchbase)
Urban Umbrella brings its artful scaffolding to Texas
Urban Umbrella brings its artful scaffolding to Texas
RiseBoro Community Partnership CEO Scott Short and 75 Linden Street in Bushwick (Getty, RiseBoro Community Partnership, Google Maps)
RiseBoro’s passive house retrofits save landlord a bundle
RiseBoro’s passive house retrofits save landlord a bundle
From left: BTEA's Louis Coletti, Assembly member Rodneyse Bichotte Hermelyn and Sen. James Sanders Jr. (Getty; Illustration by Kevin Rebong for The Real Deal)
Hochul signs bill to raise fines for construction companies
Hochul signs bill to raise fines for construction companies
(Illustration by The Real Deal with Getty)
TRD Pro: Is homebuilding really down?
TRD Pro: Is homebuilding really down?
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...