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According to Dow Jones, business conditions across New York City remained largely steady in September from August, but an employment measure dropped to a level not seen since the aftermath of the financial crisis, according to the New York chapter of the Institute for Supply Management.
The organization said its seasonally adjusted employment index fell to 33.9 in September, down from 54.9 in August and 44.9 in September of last year. Results below 50 represent contracting activity.
Its headline current business conditions index, based on a survey of companies across New York City, increased to just below break-even at 49.6 up from 47.5 in August.