4.6 million New Yorkers are in the job market, but are they being treated fairly
The number of people applying for jobs in New York is growing and that means a new report by New York City’s Economic Development Corporation finds that many of them have less opportunity than they thought.
As part of a comprehensive review of job openings, the EDC recently conducted a survey of the city’s workforce to identify the job seekers it deems most qualified for the jobs they’re applying for.
The numbers from the ECC survey, which were published on Wednesday, are shocking.
The median salary for a job is $34,000 a year, but a quarter of those who were interviewed said they had to wait at least six months before they got a job.
And just 1.6 percent of the job applicants who were considered qualified said they didn’t even apply to jobs, the report found.
New York has the highest unemployment rate of any major U.S. city, which has been increasing for decades.
But the EPC’s findings suggest that those who are not even trying to get a job are underrepresented.
The survey found that in the five boroughs, less than one in 10 applicants were considered to be qualified for a position.
Meanwhile, nearly one in four job seekers in the city said they hadn’t applied for a new job since December 2016, when the unemployment rate was 7.9 percent.
In fact, the unemployment rates for people who had applied for jobs were almost double those of jobless New Yorkers.
Those who were eligible to apply for a salary job but had applied didn’t receive a salary until December 2020, the same time the unemployment was nearly twice as high.
“We’re getting a bit of a mixed message about how the economy is doing and how we are doing, because the economy hasn’t changed significantly,” EDC President Peter Fimrite told New York magazine.
“So we need to take the pulse of the market.”
Fimrites said he hopes the report will help cities make the most of a recovery.
“When you have an economy that’s not really growing, it can be tough to see how we can build a strong and resilient recovery,” he said.
New Yorkers were asked whether they thought the city should make a concerted effort to increase its job market.
The overwhelming majority said they wanted to see more employers open more jobs.
Only 1 in 5 said that New York should focus on hiring more people.
In contrast, a majority of those interviewed said that hiring would be the best way to increase employment.
“The message we got was, ‘Don’t get hung up on this,'” Fimines said.
“Make sure you get out and work, because it’s going to be hard to find a job when the economy’s down.”
The EDC is an independent, nonprofit organization created by the city in 2006 to support the economic development of the Greater New York Area.
It receives funding from private and government sources, and it also receives funding in the form of tax credits and grants from private businesses.