Our Research

Dashboard NYC

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

Q3 Dashboard

Q3 2018 Dashboard

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

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Total Jobs

↑ 1.7%

Q3 2018: 4.5 million
Q3 2017: 4.4 million

 

Unemployment Rate

↓ 0.5%

 

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 343,800 2,600 ↑
Health Care 743,500 31,800 ↑
Media/Publishing 197,700 -1,500 ↓
Professional Services 757,900 10,200 ↑
Leisure & Hospitality 470,200 12,700 ↑
Retail 352,400 5,900 ↑
Government 550,900 -1,700 ↓
Construction 159,800 6,400 ↑
Education 233,100 5,600 ↑
Real Estate 132,800 -400 ↓
Manufacturing 72,000 -1,000 ↓
Other 476,400 4,000 ↑

Most sectors enjoyed robust job growth, but Media/Publishing, Manufacturing and Real Estate lost jobs year-over-year.

  • Number of Job Openings
    Q3 2018: 230,000
    Q2 2017: 236,000
  • Average Wage

    ↑ 1.3%

Private Sector

  • Commercial Vacancy Rate in Manhattan

    ↑ 0.5%

  • Commercial Rent in Manhattan

    ↓ 0.03%

  • Total VC Investment
    Downstate New York

    ↑ 34.3%

  • VC Investment in Tech
    Downstate New York

    ↑ 126.3%

Bloomberg Index

↑ 4.1%

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 (+3.5%), San Jose (+3.2%), Boston (2.6%), Los Angeles (+2.0%) and San Francisco (+1.8%), but outpaced 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 July–September 2018.

VC Investment Growth Rate 

Venture capital investment increased 34.3 percent in Downstate New York, compared to 33.5 percent growth nationwide. New York City companies received three of the five largest VC deals in Q3: WeWork ($1 billion), Peloton ($550 million) and Letgo ($500 million).

City Budget

  • All City Tax Revenue

    ↑ 4.5%

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

  • Property Tax Revenue

    ↑ 4.3%

  • Sales Tax Receipts

    ↑ 7.6%

  • City Spending

    ↓ 0.7%

    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

      ↓ 2.1%

    • Reported Non-Violent Crimes

      ↑ 2.7%

    • Reported Murders

      ↑ 5.1%

    • Subway Reliability

      ↑ 3.0%

      67.7 percent of weekday subways reached their scheduled terminal on time, up from 65.4 percent last year. Note: The MTA has adjusted their schedules to include longer, more realistic run times, which contributed to the increase.

  • Traffic Collisions

    ↑ 0.8%

  • Homeless in Shelters

    ↑ 1.2%

  • NYC Jail Population

    ↓ 7.3%

Housing

Average Home Sale Price

↑ 4.0%

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

Residential Construction Permits

↑ 0.6%

Amazon

Amazon’s presence in New York will open opportunities for New Yorkers from diverse backgrounds. Of the 114,000 direct, indirect and induced jobs Amazon will help create in the New York Metro region, most will be in occupations with median incomes under $100,000 and will require no more than a high school degree.

Download Q3 2018 Dashboard →