New York City’s economic expansion over the past decade has not primarily been driven by high-profile sectors like finance or technology but by growth in healthcare and social assistance, particularly home health aides in Brooklyn. A recent analysis by the Association for a Better New York (ABNY) and the New York City Employment and Training Coalition (NYCETC) highlights that while the city’s job market has expanded to a record 4.65 million jobs in 2025—a 3.6% increase over the pre-pandemic peak—many of these positions fail to provide sufficient wages to support a stable living.
Healthcare and social assistance added 351,000 jobs since 2015, with over half located in Brooklyn. Workers in these roles, such as home health aides, earn approximately $40,000 annually, which allows for rent payments of about $1,000 a month. This figure contrasts sharply with the city’s median rent of $3,223 per month, underscoring a growing affordability gap.
The report reveals persistent inequalities in the labor market. Black New Yorkers are the only demographic group experiencing a rising unemployment rate over the last decade. Geographic disparities are also pronounced, with the Bronx recording an unemployment rate of 8.2% compared to the 5.4% citywide average. Wage disparities are tied closely to education levels; nearly two-thirds of city jobs do not require a four-year college degree, yet the median wage for these positions is nearly $60,000 less than for jobs that do.
Additionally, about 1.4 million New Yorkers remain in occupations where real wages have declined since 2019 after adjusting for inflation. For a single parent with one child, the cost of basic living expenses is roughly $113,000 annually, a threshold unmet by many fast-growing professions.
In response to these issues, ABNY and NYCETC advocate for structural changes to ensure economic growth translates into sustainable opportunity. Their strategy emphasizes integrating workforce development into every major city investment, including projects in housing, transit, clean energy, advanced manufacturing, life sciences, and infrastructure. These initiatives should embed talent pipelines, apprenticeships, employer partnerships, and clear career pathways from the outset.
They further emphasize the need to treat skills as critical infrastructure, calling for a more coordinated workforce system that engages employers directly and invests consistently in organizations aiding workers’ navigation of career advancement. Success metrics should extend beyond program enrollment or completion to include employment outcomes, wage growth, job retention, and upward mobility.
Recognizing the rapid impact of artificial intelligence on the labor market, the report urges that lifelong learning become a standard component of career development. AI training should be incorporated throughout education and workforce programs, with technology companies playing a role in financing and shaping these initiatives.
Tony Shorris, the incoming president and CEO of the New York City Economic Development Corporation (EDC), is positioned to lead these efforts. The EDC can serve as a nexus connecting economic growth, investment, employers, and workers, ensuring that workforce development is central to all major initiatives. The approach calls for collaborative engagement among community organizations, labor groups, educators, and employers to effect meaningful change.
The findings underscore that New York City’s economic success must be measured not only by job creation but by whether those jobs enable residents to achieve economic stability and quality of life.