Good news for Hochul and Adams: More New Yorkers are working than ever

Back in March, Mayor Eric Adams celebrated record New York City employment. At first glance, there's much to be pleased about. In 2023, New York City's private employment stood at a record, surpassing the 2019 pre-pandemic peak. Total employment, which includes government, also set a record, even though the city has recently shed payroll employees, compared with levels under Adams' predecessor, Bill de Blasio. But a deeper look at changes in private employment from 2019 to 2023 raises some disquieting questions. As I note in a recent brief [link] for the Manhattan Institute, there's good news, for sure. Wall Street is doing well, and tech services are growing fast, adding high-paying jobs. That