BritishAmerican Business Incorporated - Dedicated to promoting Trans-Atlantic trade and investment
BABi
US and British Flag - BABi

News

 Click Here to Make this Page Printable

 

NYC Economic Development Agency – July 2004 Economic Snapshot

 

Date:  August 10, 2004

 

  • Private employment increased by 5,600 jobs in June, after losing 1,400 jobs in May.
  • The unemployment rate grew to 7.8% in June from 7.0% in May. (Source: New York State Dept. of Labor.)
  • The NYC hotel occupancy rate in May 2004 was 86%, compared to 77% in May 2003.
  • In May 2004, the average daily hotel room rate was $210, a 13% increase from May 2003. (Source PKF Consulting.)
  • The Direct Class A office vacancy rate was 8.3% in June, while the average asking rent was $50 per sq. ft. (Source: Cushman and Wakefield.)
  • In May 2004, 7.7 million passengers flew in and out of the region’s airports, a 12% increase from May 2003. (Source: Port Authority of New York and New Jersey.)
  • For the four months ending June 2004, there were 3,002 building projects that started construction in NYC, an increase of 26% from the four months ending June 2003. (Source: Dodge Analytics.)