The Bronx’s unemployment rate has fallen to its lowest number ever recorded in the modern era.
Unemployment in The Bronx fell to 5.7 percent in March 2017, according to newly-released statistics from the New York State Department of Labor (NYSDOL). The number is down from 6.5 percent in February 2017 and cut by more than half from a previously reported high of 14.1 percent in January 2010.
This is the lowest unemployment rate The Bronx has ever had, according to NYSDOL statistics which date back to January 1990. This is also the first time the borough’s unemployment rate has ever dropped below 6.0 percent.
“The Bronx has seen incredible transformative development during the last eight years, and these new statistics on unemployment and job creation show the world just how far this borough has come,” said Bronx Borough President Ruben Diaz Jr. “We still have work to do, but these numbers make it crystal clear that the work we are doing is working.”
In addition to having its lowest ever unemployment rate, the new statistics from the NYSDOL also find that in March 2017 the borough had its highest ever number of employed Bronxites at 584,300. The borough also as has its highest ever labor force participation rate at 619,400 during that same month.
NYSDOL stats indicate that 115,500 more Bronxites have jobs today than when Borough President Diaz first took office in May 2009. Additionally, The Bronx now has a lower unemployment rate than 22 other counties in New York State, following decades of having the highest unemployment rate in the entire state.
“Throughout my tenure as borough president, we have enacted a smart agenda on job creation and new development that works for the entire Bronx. These statistics show that our efforts have borne considerable fruit,” said Borough President Diaz. “While the climate in Washington and the proposals of the Trump Administration present a grave threat to our success—and in fact the success of the entire city—we will continue to work with committed partners at every level of government, as well as our allies in the business community, to continue to bring positive growth and economic success to The Bronx.”
Borough President Diaz added, “I want to thank all of our elected officials, community boards, business community, non-profits, neighborhood leaders and our more than 1.4 million residents for their collective efforts to make The Bronx an even greater place to live, to raise a family, and especially to work. These new statistics are worthy of celebration, and we can all be proud of our success.”
“I am gratified that our support of Bronx businesses has resulted in a record breaking year in making sure that Bronx residents have the jobs that they need and deserve right here in our borough. This historical low does not mean we are done. We will continue to work towards insuring that everyone who wants a job in The Bronx has one,” said Marlene Cintron, President of the Bronx Overall Economic Development Corporation.
The Department of Labor’s statistics can be found at http://on.ny.gov/28LMCuV.
Since Borough President Diaz took office in 2009, The Bronx has seen more than $12.7 billion in total development, which has led to the creation of thousands of new jobs. Much of that development is outlined in Borough President Diaz’s recently released development report, which can be viewed at http://on.nyc.gov/2plRekm.