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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 Q2 2018

Q2 2018 Dashboard

Data for the second quarter of 2018 shows continued job growth and an increase in crime.

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Total Jobs

↑ 1.6%

Q2 2018: 4.5 million
Q2 2017: 4.4 million

 

Unemployment Rate

↓ 0.4%

 

Long-Term Unemployment Rate

↑ 0.1%

 

Underemployment Rate

↑ 1.0%

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 338,200 3,300 ↑
Health Care 742,300 29,200 ↑
Media/Publishing 196,900 1,400 ↑
Professional Services 754,000 14,500 ↑
Leisure & Hospitality 464,700 7,900 ↑
Retail 352,600 4,800 ↑
Government 550,100 -2,100 ↓
Construction 157,200 7,400 ↑
Education 257,000 3,800 ↑
Real Estate 133,800 1,000 ↑
Manufacturing 71,900 -1,700 ↓
Other 478,600 3,200 ↑

Most sectors enjoyed robust job growth, but Manufacturing lost jobs year-over-year.

  • Number of Job Openings
    Q2 2018: 218,000
    Q2 2017: 204,000
  • Average Wage

    ↑ 2.5%

Private Sector

  • Commercial Vacancy Rate in Manhattan

    No Change

  • Commercial Rent in Manhattan

    ↑ 0.1%

  • Total VC Investment
    Downstate New York

    ↑ 2.3%

  • VC Investment in Tech
    Downstate New York

    ↓ 5.7%

Bloomberg Index

↑ 6.9%

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 (+3.4%), San Jose (+3.3%), Boston (1.8%) and San Francisco (+1.7%), but outpaced Los Angeles (+1.4%) and Chicago (+0.9%).

Labor Force Participation

New York City: 69%
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 April–June 2018.

VC Investment Growth Rate 

Venture capital investment increased 2.3 percent in Downstate New York, compared to 19.5 percent growth nationwide. New York City-based Dataminr received $392 million, which was the largest fintech deal nationwide in Q2.

City Budget

  • All City Tax Revenue

    ↑ 3.7%

    The increase in tax revenue was primarily driven by increases in personal income and sales tax receipts.

  • Property Tax Revenue

    ↓ 5.4%

  • Sales Tax Receipts

    ↑ 8.3%

  • City Spending

    ↑ 3.0%

    The increase in city spending was primarily driven by increases in debt service obligations, education spending and social services spending.

Quality of Life

    • Reported Violent Crimes

      ↑ 0.2%

    • Reported Non-Violent Crimes

      ↑ 4.4%

    • Reported Murders

      ↑ 27.6%

    • Subway Reliability

      ↑ 4.5%

      67.0 percent of weekday subways reached their scheduled terminal on time, up from 62.6 percent last year. The G Line declined the most, with on-time trains tumbling 14.2 percent. The 4 and 5 trains improved 25.7 percent and 29.7 percent respectively.

  • Traffic Collisions

    ↑ 3.9%

  • Homeless in Shelters

    ↑ 1.5%

  • NYC Jail Population

    ↓ 8.4%

Housing

Average Home Sale Price

↓ 4.8%

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

Residential Construction Permits

↓ 3.6%

Download Q2 2018 Dashboard →