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By JOSEPH RUNFOLA JR, BROKER, GRI | Broker in Staten Island, NY

NYC real estate layoffs

The New York City real estate industry shed 600 broker-related jobs in October, bringing the 2009 tally thus far to 5,700, or 4.7 percent of that sector's labor force, according to a new employment report from Eastern Consolidated. Nationwide, brokerage firms, leasing agencies and management companies cut 2,200 employees during the month, for a current total of 105,500 job losses, or 5.1 percent, since December 2008. The construction industry alone, however, is weathering a more serious fallout. A whopping 16,300 New York City construction jobs -- 12.3 percent -- were lost during the month, though that was only a fraction of the nearly 1.6 million construction employees terminated across the country, who comprised 20.7 percent of the industry. TRD

Comments

By Irena Popilevsky,  Tue Feb 2 2010, 13:54
Real estate employees are just like any other industry's employees. When the economy is doing bad and you are a paid employee, cuts are beeing made everywhere. Everyone suffers. Hopefully this will soon end, jobs will be created again and everyone will be happy again.
By Erica Ramus,  Tue Feb 2 2010, 13:59
Eye-opening statistics. The strong will survive and even thrive in this economy.

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