NYC Real Estate Avoided Large-Scale Job Cuts
(iStock/Illustration by Kevin Rebong for The Real Deal) New York City real estate avoided some of the deepest cuts seen during a year of record job losses across most industries. Despite challenges like a temporary ban on in-person property showings and the spring shutdown’s outsized damage to retail and hospitality, the city’s real estate job cuts were mild compared to its broader workforce. Across the five boroughs, jobs in the real estate sector fell 6.7 percent last year to 136,000 positions, according to state Department of Labor figures. That amounted to 9,100 fewer jobs industry-wi...
Source: therealdeal.com