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Brooklyn job market on fire over last two years

Job creation rate outpaces Manhattan

July 12, 2016 By Mary Frost Brooklyn Daily Eagle

While all five boroughs added jobs at a higher rate than in previous years, Brooklyn saw an 11.60 percent increase – fully 4.5 percent higher than the citywide average – during the first two years of Mayor Bill de Blasio’s administration. Chart courtesy of the New York City Economic Development Corporation

While all five boroughs added jobs at a higher rate than in previous years, Brooklyn saw an 11.60 percent increase – fully 4.5 percent higher than the citywide average – during the first two years of Mayor Bill de Blasio’s administration. Chart courtesy of the New York City Economic Development Corporation

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The number of jobs in Brooklyn grew at an explosive rate during the first two years of Mayor Bill de Blasio’s administration, according to figures released by the New York City Economic Development Corporation (NYCEDC) on Tuesday.

While all five boroughs added jobs at a higher rate than in previous years, Brooklyn saw an 11.60 percent increase – fully 4.5 percent higher than the citywide average. While Manhattan has significantly more jobs overall, the rate of increase in Brooklyn was almost double that of Manhattan.

Jobs grew by 7.80 percent in Queens, 6.93 percent in the Bronx, 5.94 percent in Manhattan, and 5.54 percent in Staten Island. These figures are based on job data through December 2015, the most current period for which borough-specific job numbers are available, according to NYCEDC.

“We’re working to fight income inequality one job at a time,” de Blasio said in a statement. “We’ve been targeting investments towards historically underserved communities, and focusing on both raising wages and creating accessible, middle class jobs. And the data shows we’re already seeing real results.”

Brooklyn Borough President Eric Adams said that increasing employment has been a “key focus” of his administration.

“Judging from our recent job growth, it is undeniable that Brooklyn is the economic engine of not only New York City, but of the entirety of America,” he said, adding that the city must be “relentless” in capitalizing on “every ounce of our potential” by creating good-paying jobs for every resident seeking one and providing job training programs in the emerging technology and information sectors.

Deputy Mayor for Housing and Economic Development Alicia Glen said in a statement that wages and benefits are on the rise, and that underserved areas were being targeted.

NYCEDC President Maria Torres-Springer said the numbers reflect the “targeted investments” the de Blasio administration has been making across the city.

The seeds for a number of these outer borough jobs were planted early in Mayor Michael Bloomberg’s administration, when he oversaw and funded an array of economic development projects.

These initiatives included millions of dollars for infrastructure improvements that set the stage for Atlantic Yards, Steiner Studios at the Brooklyn Navy Yard and BAM’s Cultural District; tax incentives to encourage film and television production; and a new industrial policy which established industrial business zones citywide.

De Blasio continues to build on these initiatives. Earlier this year, NYCEDC launched the NYC Industrial Developer Fund, a $150 million public/private fund to help develop new space for industrial jobs in New York City. The mayor also launched Futureworks NYC to help grow manufacturing jobs, anchored by an Advanced Manufacturing Center at the Brooklyn Army Terminal. The new Citywide Ferry Service will soon connect residents with growing job hubs, including Downtown Brooklyn.

NYCEDC also touted the new International Innovators Initiative (In2NYC), which will help entrepreneurs grow their startups at CUNY schools.

The fastest-growing employment sectors since 2013 include the categories of Health Care & Social Assistance, Professional, Scientific, & Technical Services, and Accommodation & Food Services.

The unemployment rate in New York City is 5.1 percent, down 3 percentage points since Mayor de Blasio took office.

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