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12 posts on "New York City"

May 06, 2011

Historical Echoes: New York City’s Economy – That Was Now, This Is Then

New York Fed Research Library

Discussions of New York City’s economy that focus on declining employment, a shrinking securities industry, and a reduction in municipal jobs might suggest the present. These concerns, however, are not new. In the 1970s, New York City faced many of the same problems it does now in the aftermath of the Great Recession. Back then, some observers doubted that the city could ever recover its former glory.

Continue reading "Historical Echoes: New York City’s Economy – That Was Now, This Is Then" »

Posted by Blog Author at 10:00 AM in Employment, Historical Echoes, New York City | Permalink

May 02, 2011

New York City’s Economic Recovery—Main Street Gets the Jump on Wall Street

Jason Bram and James Orr

After bottoming out in late 2009, New York City’s economy has been on the road to recovery. In this post, we call attention to an unprecedented feature of the current economic recovery: overall employment in the city began to rebound from the recession well before Wall Street started adding jobs. We also consider some questions that this development naturally raises: What took Wall Street employment so long to recover? What’s been driving job generation on Main Street? What does the recent pickup in Wall Street employment suggest about the outlook for the city’s economy?

Continue reading "New York City’s Economic Recovery—Main Street Gets the Jump on Wall Street" »

Posted by Blog Author at 10:00 AM in Employment, Financial Markets, New York City, Wages | Permalink | Comments (0)
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Liberty Street Economics features insight and analysis from New York Fed economists working at the intersection of research and policy. Launched in 2011, the blog takes its name from the Bank’s headquarters at 33 Liberty Street in Manhattan’s Financial District.

The editors are Michael Fleming, Andrew Haughwout, Thomas Klitgaard, and Asani Sarkar, all economists in the Bank’s Research Group.

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