New York and the surrounding areas have a mythical presence in the American psyche, representing the ultimate playground for the American Dream. Citizens have long dreamed of making their way to this pinnacle of business and culture to find their fate and build a life they love – and not without reason.
Since the 2008 recession, economy and employment in the New York-Newark-Jersey City area have become increasingly more concentrated in urban centers. The region has added 1.3 million jobs in the last decade while gaining only 730,000 more people, and both unemployment and poverty have declined. Job growth in New York City particularly has been double that of other regions in the tri-state area. While that has slowed in the last few years, it remains stable and average non-farm wages have increased by about 0.8% between September 2018-2019.
While employment has fallen in the region over the last decade, it has been ticking back up across the last year and it remains one of the most concentrated areas for employment across most industries. As people increasingly quit their jobs either to move away or seek new opportunities, the possibility for job acquisition remains incredibly strong in the New York-Newark-Jersey City and unemployment has been steadily falling since 2012. Meanwhile, wages have been slowly growing and major barriers to entry, like housing prices, have started to become more reasonable in key areas. Overall, the New York-Newark-Jersey City can expect reduced but continuing growth in both employment and quality of life over the coming years.
Want to work in the New York-Newark-Jersey City area? We’ve collected the top regional industries to help you get started:
Top hirers in the New York-Newark-Jersey City areas are: