Numbers from the New York State Department of Labor show another drop in the unemployment rate and a significant increase in the labor participation rate in the Bronx.
Newly released statistics show the Bronx unemployment rate at 7.8 percent for June 2015, down from 9.7 percent in June 2014 and down from a peak of 13.9 percent in January 2010.
In addition, these numbers indicate that roughly 20,500 more Bronx residents are employed now than in June 2014, and that the overall Bronx labor force grew by roughly 10,000 individuals over the same time period.
The Bronx has seen more than $7 billion in total development, which has led to the creation of over 15,000 new jobs. In addition, a new partnership announced by Gov. Andrew Cuomo announced in August between the New York State Department of Labor and the Bronx Overall Economic Development Corporation, as part of the “NY Works” program, is giving more jobs to Bronxites.