{"id":380944,"date":"2026-10-23T17:40:08","date_gmt":"2026-10-23T17:40:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/380944\/"},"modified":"2026-10-23T17:40:08","modified_gmt":"2026-10-23T17:40:08","slug":"nyc-lost-30k-private-sector-jobs-in-just-2-months-concerning","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/380944\/","title":{"rendered":"NYC lost 30K private sector jobs in just 2 months: &#8216;Concerning&#8217;"},"content":{"rendered":"<p>The Big Apple\u2019s private sector lost more than 30,000 jobs in the last two months alone \u2014 in what the city comptroller called a \u201cconcerning\u201d downward trend.<\/p>\n<p>Private-sector employment dropped by 23,000 in September after losing 7,400 jobs in August \u2014 with gigs in finance and tourism leading the private sector in declines, according to a new report by City Comptroller Mark Levine\u2019s office.<\/p>\n<p>\u201cDespite a relatively strong tourism season, Leisure &amp; Hospitality employment fell 7,700 in September alone and is down 17,000 jobs over the past year,\u201d Levine wrote, calling the figures \u201cconcerning\u201d across the board.<\/p>\n<p><img style=\"aspect-ratio:1.49926794;display:block\" loading=\"lazy\" decoding=\"async\"   data-modal-image=\"41479912\" width=\"885\" height=\"590\" src=\"https:\/\/www.newsbeep.com\/us-ny\/wp-content\/uploads\/2026\/10\/000-seats-bronx-staten-island-145733345.jpg\" alt=\"NYC Comptroller Mark Levine speaks at a podium with the Seal of the City of New York.\" class=\"wp-image-41479912\"\/>NYC Comptroller Mark Levine issued the \u201cconcerning\u201d report on Thursday. Lone Pine Press for NY Post<\/p>\n<p>The finance sector, one of the state\u2019s biggest tax revenue drivers, shrank by nearly 6,000 positions in September as well. <\/p>\n<p>Overall, the city\u2019s private sector has lost 32,000 positions over the past year, <a href=\"https:\/\/comptroller.nyc.gov\/newsroom\/newsletter\/new-york-by-the-numbers-monthly-economic-and-fiscal-outlook-no-118-oct-2026\/\" target=\"_blank\" rel=\"noopener nofollow\">according to the report <\/a>released Thursday.<\/p>\n<p>\u201cAfter picking up some steam earlier this year, the job market has hit a wall, with private sector employment decelerating nationally and dropping sharply locally,\u201d Levine wrote. <\/p>\n<p>\u201cMeanwhile, national GDP is estimated to have grown by roughly 3% this past quarter,\u201d he continued. \u201cThe \u2018K-Shaped\u2019 economy gripping the country is squeezing New York City just as tightly.\u201d<\/p>\n<p>He noted the 0.6% inflation jump in September nationally was the largest since May, \u201cwith New York City now up 4.5% year-to-year, as residents face a high cost of living compounded by rising energy costs.\u201d<\/p>\n<p>\u201cRents are now over 5% higher than this time last year, and energy prices are up over 21% since then as well,\u201d Levine said.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\"   data-modal-image=\"41479920\" width=\"589\" height=\"393\" src=\"https:\/\/www.newsbeep.com\/us-ny\/wp-content\/uploads\/2026\/10\/historic-financial-buildings-skyscrapers-line-146204861.jpg\" alt=\"Historic financial buildings and skyscrapers line Wall Street in the New York City financial district, with American flags hanging along the street.\" class=\"wp-image-41479920\" style=\"width:589px;height:auto;aspect-ratio:1.49926794;display:block\"\/>The finance sector saw a big hit last month.  DenisProduction.com \u2013 stock.adobe.com<\/p>\n<p>But the fiscal watchdog said the city\u2019s outlook wasn\u2019t completely dire, with the unemployment rate holding steady at 4.8% and \u201cred-hot rental markets\u201d in office and residential properties pointing to continued demand for folks to move to and stay in five boroughs.<\/p>\n<p>The private sector job losses, though, come ahead of the expected debate in Albany about hiking taxes on businesses to cover the impending massive budget deficits in New York City and other municipalities around the state.<\/p>\n<p>Gov. Kathy Hochul has vowed on the campaign trail not to raise taxes for corporations.<\/p>\n<p>Still, many insiders expect some sort of new revenue raiser for the state to be put forward as Mayor Zohran Mamdani pushes his \u201ctax the rich\u201d agenda.<\/p>\n","protected":false},"excerpt":{"rendered":"The Big Apple\u2019s private sector lost more than 30,000 jobs in the last two months alone \u2014 in&hellip;\n","protected":false},"author":2,"featured_media":380945,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[3365,1603,3415,64423,57,9,24,56,63,65,64,29372,58],"class_list":["post-380944","post","type-post","status-publish","format-standard","has-post-thumbnail","category-new-york-city","tag-economy","tag-finance","tag-jobs","tag-jobs-report","tag-metro","tag-new-york","tag-new-york-city","tag-ny","tag-nyc","tag-nyc-headlines","tag-nyc-news","tag-office-of-the-comptroller","tag-us-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/380944","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=380944"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/380944\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/380945"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=380944"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=380944"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=380944"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}