NEW YORK, NY – New York workers enjoy being the 4th highest-paid workers in America, but that income comes at a cost. According to a study by Wallet Hub, New York isn’t a great place for employees.
Wallet Hub’s study took into consideration unemployment rates, commute times, income levels, and job satisfaction among other indicators.
“Job hunting is never easy. Between searching for employment openings, updating résumés, contacting references, and preparing for interviews, it’s hard work. Luckily, it’s a good time to be looking for a job, as many employers are desperate to hire, which gives a lot of leverage to applicants when it comes to negotiating good compensation and benefits. Plus, the unemployment rate is 3.7% as of October 2022, close to pre-pandemic level,” Wallet Hub said.
While New Yorkers enjoy solid wages, they also spend the most time driving to work. New York ranks dead last in America when it comes to commute time.
When it comes to actually find a job, New York ranks 19th in the nation. It ranks 49th when it comes to job opportunities. New York also has the second-highest unemployment rate in the country.
Many New Yorkers aren’t even happy with the jobs they already have, the study suggests. The Empire State ranks 32nd overall in job satisfaction.
If you can find a job, you can expect it to pay more than jobs in most other states as New York boasts the fourth-highest average monthly starting salary.