City, real estate sector post January job gains

(source: Eastern Consolidated)

New York City lost fewer jobs than previously estimated as it emerged from the recession, shedding 141,300 jobs between April 2008 and September 2009, instead of the 179,000 previously reported, according to the January 2011 employment report from Eastern Consolidated. Since that September 2009 low, the city has experienced a net gain of 50,700 jobs — 18,000 of which were added in January 2011 — putting city employment levels at 2.4 percent below the April 2008 peak. The city’s real estate industry gained 600 jobs in January, putting employment in the sector at 5.4 percent, or 6,600 jobs, below peak levels from April 2008. Nationwide, employment across all industry is also 5.4 percent below its January 2008 peak, having shed 7.48 million jobs since then. TRD