Taking the pulse of the New York City economy
By: Jason Bram and James Orr
Contributors: Orr, James (James A.), author; Federal Reserve Bank of New York
Series: Current issues in economics and finance -- Volume 12, Number 4 (May/June 2006). -- Second district highlights; Current issues in economics and finance; Current issues in economics and finance -- v. 12, no. 4 (May/June 2006)
Publisher: Federal Reserve Bank of New York
Published: 2006
Place of publication: New York, N.Y.?]
Language: eng
Subjects: Economic conditions; September 11 Terrorist Attacks, 2001; Labor market; Unemployment; Economic history; Economics
Description: Although New York City's payroll employment is rising briskly, it still falls short of its 2001 peak, raising concerns that the local economy is not generating enough jobs. However, a look at a broader set of economic indicators--alternative job measures, wage and salary earnings, and a composite index of economic activity--suggests that the economy is significantly healthier than the payroll count indicates. Indeed, a measure of employment among New York City residents shows a strong upward trend extending over the past thirty years.
Notes: Includes bibliographical references (page 7)