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
Developers break ground on 500-unit LIC project with $220M loan
Developers break ground on 500-unit LIC project with $220M loan
Developers break ground on 500-unit LIC project with $220M loan
From left: Ben Conry and Blair Chenault, co-founders, Flashtract (Flashtract, iStock)
Construction payments startup Flashtract closes $15M Series A
Construction payments startup Flashtract closes $15M Series A
Cheryl McKissack Daniel, chief executive officer, McKissack & McKissack (McKissack, Wikipedia/ViacomCBS, iStock/Illustration by Steven Dilakian for The Real Deal)
Paramount+ debuting drama inspired by NYC construction boss
Paramount+ debuting drama inspired by NYC construction boss
Supply chain woes are keeping homes from getting built. (Getty)
Supply-chain woes slow new-home construction, raise prices to record high
Supply-chain woes slow new-home construction, raise prices to record high
Austin has 500 new homes planned for area near Tesla
Austin has 500 new homes planned for area near Tesla
Austin has 500 new homes planned for area near Tesla
Samsung’s $17B deal came with Texas-sized incentives
Samsung’s $17B deal came with Texas-sized incentives
Samsung’s $17B deal came with Texas-sized incentives
A rendering of 620 West 153rd Street (Rendering via J. Frankl Associates)
Jay Group secures $83M for massive Hamilton Heights resi building
Jay Group secures $83M for massive Hamilton Heights resi building
Residential construction (iStock)
Map: Here’s where NYC added the most residential units this year
Map: Here’s where NYC added the most residential units this year
arrow_forward_ios

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

Loading...