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Manhattan, NY : Office Snapshot - Q4 2013

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New York City’s economy continued to grow at a strong pace in the fourth quarter of 2013. In October and November, the City added more than 29,000 jobs, reaching a total of 3.99 million. It is estimated that at the end of 2013 New York City had more than 4 million people on payrolls, an all-time high. In 2013, the engines of job growth in New York City were tourism and technology.

These sectors, along with education and healthcare, boosted employment in the City by 88,000 jobs in the first 11 months of the year. However, the financial services sector, historically an important driver of employment, lost approximately 100 jobs during the same time period. A result of this weakness is that office-using employment as a whole only increased by 5,700 jobs in the first 11 months of the year.

Source : Cushman & Wakefield