New York City has added jobs overall, but not in the relatively high-paying information industries, which shed more than 31,000 jobs since October 2022.
The city gained 57,000 jobs in the first five months of the year, and total employment stands at a record 4.75 million, according to data released late last week by the state Labor Department. The city unemployment rate in May was unchanged at 4.8%. That’s the smallest gap with the national rate of 4.0% since the pandemic shut down the economy in 2020.
The gains are, however, primarily in low-paying health care jobs especially for home health care, which has an average wage of only $31,000 a year. With information workers averaging $193,000, it takes six new home health care jobs to make up for the loss of one job in the information sector.
https://www.thecity.nyc/2024/06/24/information-media-jobs-layoffs-economy/