New York by the Numbers Monthly Economic and Fiscal Outlook No. 118 – Oct 2026

By NYC Comptroller Mark Levine Francesco Brindisi, Executive Deputy Comptroller for Budget and Finance Krista Olson, Deputy Comptroller for Budget Jonathan Siegel, Chief Economist Jason Bram, Director of Economic Research No. 118 – October 2026 A Message from the Comptroller Dear New Yorkers, After picking up some steam earlier this year, the job market has hit a wall, with private sector employment decelerating nationally and dropping sharply locally. The U.S. added just 46,000 new private-sector jobs in September, and downward revisions for August and July subtracted 70,000 jobs. The numbers are even more concerning in New York City. Private sector employment tumbled 23,000 in September, following a 7,400-job drop in August, despite continued job gains in Healthcare & Social Assistance. Excluding that sector, private-sector employment is now down 32,000 over the past 12 months.

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