Dashboard NYC

The Partnership publishes a quarterly dashboard of key indicators to measure progress or slippage in the city’s private and public sectors.


Dashboard NYC

Q3 2017 Dashboard

Data for the first quarter of 2017 shows a record low unemployment rate, a dramatic drop in downstate VC investment and homeless in shelters at an all-time high.

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Total Jobs

↑ 1.8%

Q3 2017: 4.4 million
Q3 2016: 4.3 million

 

Unemployment Rate

↓ 0.5%

 

Long-Term Unemployment Rate

↓ 0.3%

 

Underemployment Rate

↑ 0.5%

Inclusive of residents who have given up looking for work and part-time workers looking for full-time employment.


Change in Employment by Sector

Sector Total Change
Financial Services 343,400 2,300
Health Care 706,400 24,700
Media/Publishing 191,000 -6,300
Professional Services 752,700 24,300
Leisure & Hospitality 455,700 13,200
Retail 341,600 -4,000
Government 554,700 900
Construction 155,600 5,600
Education 239,400 13,600
Real Estate 133,300 4,100
Manufacturing 74,600 -1,400
Other 468,300 2,900

Health care, education and professional services accounted for nearly 80 percent of the city’s job growth.

  • Number of Job Openings
    Q3 2017: 121,000
    Q3 2016: 118,000
  • Wage Growth

    ↑ 2.7%

Private Sector

  • Commercial Vacancy Rate in Manhattan

    ↓ 0.1%

  • Commercial Rent in Manhattan

    ↓ 1.4%

  • Total VC Investment
    Downstate New York

    ↑ 136.7%

  • VC Investment in Tech
    Downstate New York

    ↑ 3.6%

Bloomberg Index

↑ 17.7%

The Bloomberg Index tracks the share prices of 100 of the largest companies headquartered in the greater New York City area.

Competitor Markets

Overall Employment Growth Rate

Job growth in New York City trailed Dallas (+2.8%) and Boston (+2.6%), but outpaced San Francisco (+1.8%), San Jose (+1.2%), Los Angeles (+1.2%) and Chicago (+0.5%).


Labor Force Participation

New York City: 70%
London: 79%

Labor Force Participation refers to the percentage of the working age population (aged 16–64) either working or actively looking for work. These rates reflect July–September 2017.


VC Investment Growth Rate 

Venture capital investment spiked 136.7 percent in Downstate New York, compared to 32 percent growth nationwide. New York’s increase was driven by two massive funding rounds for WeWork, as well as smaller deals for Via Transportation, Bread and digital health startups AbleTo and Talkspace.

City Budget

  • All City Tax Revenue

    ↓ 4.6%

    The decrease in tax revenue was primarily driven by lower Personal Income Tax and Unincorporated Business Tax receipts.

  • Property Tax Revenue

    ↑ 6.2%

  • Sales Tax Receipts

    ↑ 3.2%

  • City Spending

    ↑ 10.5%

    The increase in city spending was primarily driven by higher personal service costs, particularly for the Police Department and Fire Department.

Quality of Life

  • Reported Violent Crimes

    ↓ 9.7%

  • Reported Non-Violent Crimes

    ↓ 2.5%

  • Reported Murders

    ↓ 29.9%

  • Both violent crime and non-violent crime dropped substantially year-over-year, driven by large decreases in robberies and burglaries. Murders also continued to decline.
  • Subway Reliability

    ↓ 2.3%

    Just 65.4 percent of weekday subways reached their scheduled terminal on time, down from 67.8 percent last year. The B Line declined the most, with on-time trains tumbling 18.2 percent.

  • Recycling Rate

    ↑ 0.3%

  • Traffic Collisions

    ↓ 1.7%

  • Homeless in Shelters

    ↑ 0.4%

Housing

Average Home Sale Price

↑ 0.6%

Includes condos, co-ops, and one to three family dwellings.

Residential Construction Permits

↓ 10.3%


Download Q3 2017 Dashboard →