Aaron M. Renn: September 2011 Archives

Regional September 19, 2011 8:58 AM
New York Stands High

Crain's New York Business recently released its 2011 CityFacts compilation and chose to title it, "New York Stands High" as they found much to celebrate in the numbers.

Among them:

The most incredible stat to me is that NYC jobs in 2011 fell only 56K short of their all time peak in 1969. If the economy ever gets back on track, this seems likely to only go up. Despite its roots in a financial crisis, Crain's labels the recent recession as "The Great Recession That Wasn't", describing it as "one of the mildest since WWII" in terms of NYC job losses. This will no doubt infuriate bailout skeptics.  The number of companies operating in downtown Manhattan now surpasses its pre-9/11 total. Rents have been stagnant, however and vacancies are projected to climb. The tech sector finally surpassed its dotcom/Silicon Alley level peak in 2000, and NYC is on the verge of overtaking