NYC Private Employers Shed 23,000 Jobs in September
Finance, information, and leisure and hospitality employers face weaker hiring and rising rent and energy costs.
Updated on Nov. 2, 2026 in Employment
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New York City lost 23,000 private-sector jobs in September 2026, according to a report released October 22, 2026 by Comptroller Mark Levine, after losing 7,400 jobs in August. Finance, leisure and hospitality, and information sector employment all declined, which matters for operators in those industries.
Why it matters
The losses came as city inflation reached 4.5% over the past year and rents rose more than 5%, squeezing operating costs for businesses already facing softer demand. Healthcare and social assistance added jobs in September, offsetting part of the decline.
The Comptroller's report shows a 23,000-job private-sector loss in September, following 7,400 in August, with leisure and hospitality down 7,700 in September and 17,000 over the past year. Excluding healthcare and social assistance, private-sector employment fell 32,000 over the 12 months ending in September.
The players
Mark Levine
New York City Comptroller who released the city's monthly employment report, overseeing the city's financial audit and budget functions that affect local businesses.
New York City Comptroller's Office
The city agency responsible for auditing city spending and publishing economic reports that inform business and policy decisions.
The details
Finance employment fell by 5,800 jobs in September and the information sector lost 1,700, while leisure and hospitality shed 7,700 positions in the same month. Meanwhile, New York City inflation reached 4.5% over the past year, energy prices rose 21%, and rents climbed more than 5%, raising operating costs for employers across the city.
Timeline
August 2026: New York City lost 7,400 private-sector jobs.
September 2026: New York City lost 23,000 private-sector jobs.
October 22, 2026: Comptroller Mark Levine released the employment report.
Market Landscape
The September decline follows a pattern in which non-healthcare private employment has contracted over the past year, with leisure and hospitality down 17,000 jobs. Nationally, the private sector added 46,000 jobs in September, while downward revisions of 70,000 to July and August figures complicate the picture.
Operators in finance, information, and leisure and hospitality should factor in softer local hiring and a shrinking customer base as they plan staffing and pricing. Rising rents and energy costs add pressure to margins, so review lease terms and cost lines with a qualified accountant before committing to new hires.
The takeaway
Employers in the hardest-hit sectors should track the next monthly Comptroller release to see whether September's loss is revised or continues. Reviewing fixed costs against the 5% rent increase now will help you plan staffing levels before the next data point arrives.
Further reading
For broader context on how hiring trends shape local labor markets, see Employment coverage across the economy.
Source note: This article includes information reported by BKReader.
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