New York will add 700,000 jobs over the next 13 years — but most will be in lower-paying service industries, according to a study released yesterday by the city’s leading business group.
The report by the Partnership for New York City said that the total number of jobs here will jump from 3.8 million to 4.5 million by 2025.
The majority of the growth is projected in four sectors: health; transportation and communications; hotels and restaurants; and wholesale and retail.
The city’s financial-services industry, a mainstay of the city economy, is projected to expanding only slightly, from 332,000 to 394,000.
Partnership CEO Kathy Wylde pointed out that New York remains No. 1 in the world in terms of global competition for business, just ahead of London.