HT15. New York Governor PANICS as City Companies All But STOP Hiring — Slowest Job Growth in Over 20 Years!

To understand just how dramatic the slowdown has been, consider the comparison to the same period one year earlier. In the first half of 2024, companies across New York City brought on approximately 66,000 additional workers. That was not a period of spectacular boom — it was simply a normal, functioning labor market doing what it typically does in a healthy economy. The contrast between 66,000 jobs and fewer than 1,000 jobs over the same six-month window is difficult to overstate. It represents a collapse in employer confidence and hiring activity that experts say has few modern precedents outside of true economic crises.