New York City saw a significant drop in unemployment in September, largely due to growth in the technology industry.
According to data released by the New York Department of Labor, the number of employed people in the city grew to a record-breaking number of more than four million last month. This exceeds the previous high of 3.8 million from Aug. 2008 by an impressive 7 percent.
In the tech industry alone, massive gains have been made in past 5 years. The number of jobs in computer systems design - which now rests at 65,100 - has increased by 47 percent since September 2009. Management, scientific and technical consulting services positions have seen their numbers grow by 46 percent from 30,900 in Sept. 2009 to the current amount of 45,100, reported The Wall Street Journal.
Many major tech companies call the city home due to its diverse array of available talent. According to The Wall Street Journal, Google has greatly increased its East Coast presence in the past 5 years, nearly doubling the size of its New York operations which now employ over 4,000 professionals.
The source noted that most of New York's recent employment gains came from lower-paying industries, such as food service and retail, but the rise in tech-related jobs shows a promising increase in high-salary hiring.