New York, NY – January 2024 Jobs Report – City on the Rise, But Cautious Optimism Prevails

, ,

Overview: New York City’s job market started 2024 with a positive surge, adding 31,000 new jobs – outpacing national averages. However, experts urge cautious optimism as growth slowed compared to December 2023 and broader economic concerns loom.


  • 31,000 new jobs added, exceeding state and national averages.
  • Unemployment rate remained steady at 4.3%.
  • Professional & Business Services sector led the surge, adding 12,000 jobs.
  • Leisure & Hospitality saw continued recovery, adding 8,000 jobs.
  • Construction remained stable, adding 3,000 jobs.

What Industries and Occupations Grew:

  • Professional & Business Services: Management analysts, computer and information systems managers, software developers and accountants saw high demand.
  • Leisure & Hospitality: Chefs, cooks, waiters and waitresses, bartenders, and customer service representatives.
  • Construction: Carpenters, electricians, plumbers, and construction laborers.
  • Education & Health Services: Registered nurses, physicians, and nursing assistants.

What Industries and Occupations Shrank:

  • Finance & Insurance: Investment bankers, securities analysts, and financial advisors saw modest declines.
  • Retail Trade: Cashiers, retail salespersons, and stock clerks were impacted by continued automation and online shopping trends.
  • Information: Editors, writers, and reporters remained under pressure from digital media transformations.

Compare to Same Month Last Year:

  • Job growth in January 2024 (31,000) was slightly lower than January 2023 (34,000) but remained positive.
  • Unemployment rate improved from 4.5% in January 2023 to 4.3% in January 2024.

Compare to Previous Month:

  • Job growth slowed down compared to December 2023, which added 42,000 jobs.
  • This indicates a potential cooling trend in the job market, aligning with national forecasts.

Future Outlook:

  • Economists predict moderate job growth throughout 2024, with potential headwinds from inflation and interest rate hikes.
  • Sectors like technology, healthcare, and construction are expected to remain strong, while finance and retail could face challenges.

10 Growing Occupations in New York City:

  1. Software Developers & Applications Developers
  2. Registered Nurses
  3. Physician Assistants
  4. Home Health & Personal Care Aides
  5. Wind Turbine Service Technicians
  6. Solar Photovoltaic Installers
  7. Physical Therapist Assistants
  8. Construction Laborers
  9. Management Analysts
  10. Marketing Specialists

10 Companies Hiring Now in New York City:

  1. JPMorgan Chase & Co.
  2. Citigroup Inc.
  3. Bank of America Corporation
  4. Google LLC
  6. Meta Platforms Inc.
  7. New York City Public Schools
  8. Mount Sinai Health System
  9. Northwell Health
  10. Memorial Sloan Kettering Cancer Center