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> NYC's economy isn't doing too well? It grew by 2.7% for the second consecutive quarter in 2018. The economy has been growing at 3.5-4% during this time natio
by dunpeal 8y ago
> NYC's economy isn't doing too well? It grew by 2.7% for the second consecutive quarter in 2018.
The economy has been growing at 3.5-4% during this time nationally, so a 2.7% is actually training the national growth by a significant margin.
I don't have have the article handy, but hiring in NYC has been down this year by 3% or so. My unscientific observation is that finance employment in NYC has been in a slow but steady decline since 2008, and unlikely to recover.
- bogomipz 8y agoNYC was already doing better than most of the country economically. NYC recovered from the Great Recession rather quickly compared to much of the rest of the country.
- dunpeal 8y agoPerhaps in past years. This year, with the lower growth and decline in job numbers, it's been doing worse.