News

NYC Economic Development Agency - May 200 Economic Snapshot

• Private employment increased by 900 jobs during March.
• The unemployment rate fell to 7.9% in March from 8.0% in February.
• The NYC hotel occupancy rate in March 2004 was 83%, compared to 69% in March 2003.
• In March 2004, the average daily hotel rate was $192, a 7% increase from March 2003.
• In February 2004, 6.4million passengers flew in and out of the region’s airports, a 16.4% increase from February 2003.
• The Direct Class A office vacancy rate was 8.1% in April, while the average asking rent was $49 per sq.ft