Taking the pulse of the New York City economy

Bram, Jason; Orr, James A.

Journal Article

Taking the pulse of the New York City economy

Abstract: 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. Subseries: Second District Highlights.

Keywords: Economic conditions - New York (N.Y.); Federal Reserve District, 2nd; Employment - New York (N.Y.);