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New York's Recession Isn't As Bad As Everyone Else's!
By
Jaya Saxena
Published Aug 31, 2010
Modified Aug 31, 2010
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By
Jaya Saxena
Published Aug 31, 2010
Modified Aug 31, 2010
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If you were thinking of moving just because you can't pay that bagel tax with your unemployment check, don't go so fast. Because according to the New York Times, it's even worse out there. They report, "The typical New Yorker is less likely to be unemployed or facing foreclosure or bankruptcy than the average American." Marcia Van Wagner, the city’s assistant comptroller for budget said, "We have been feeling on more solid footing the last six months. If there’s no major shock, I think we’re going to have a slow, relatively steady recovery."
But while the city has been adding jobs for the past six months, we're not in the clear yet. David R. Jones, the chief executive of the Community Service Society of New York says "in some neighborhoods of New York things are not going well," and notes that there is a growing gap between the rich and the poor. The restaurant world serves as a microcosm for the gap; Steven Kamali, restaurant sale broker, says, "The 25 most-coveted restaurants in New York are doing an incredible amount of business. On the other side of the argument, what we’re finding is the local neighborhood restaurants are taking the brunt of the pain." So does this mean we're thanking the tourists or blaming them?
Tagged
economy
jobs
new york
recession
Unemployment
Jaya Saxena
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