Despite a slowly improving national economy, New York City continues to lose jobs, according to a report from the office of city Comptroller Elizabeth Holtzman.

Holtzman's office reported Friday that May marked the fourth straight month of job losses in the city.

On a seasonally adjusted basis, the city lost 5,800 jobs last month, the biggest monthly decline in 1993, the office said the city's labor force is at its lowest level since 1980.

"It's time to make jobs the number one issue in New York City." Holtzman said in a press release. "I urge the mayor and the City Council to immediately implement my six-point jobs program."

Holtzman's program includes eliminating some taxes on small business, reducing the hotel occupancy tax, and freezing water and sewer rates.

The employment decline comes at a tough time for the city. The city's fiscal 1994 budget, which begins July 1, is riddled with questionable revenue sources, and many fiscal expert predict the emergence of a budget gap during the course of the year.

City officials had been hoping that economic improvement and employment gains would increase tax revenues, providing budget support.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.