New York City's Economy On the Rise
Summary
New York City's economy is on the rebound. Unemployment, while still too high, is falling; last month, it dropped below 8% citywide for the first time since 2002. And during the first quarter of this year, we gained almost 24,000 new jobs. Those new jobs are coming to every borough. Last Wednesday, for example, I helped cut the first board at the new Lowe's home improvement center in the Gowanus section of Brooklyn. That giant store, which stands to capitalize on Brooklyn's ongoing housing boom, has created 320 well-paying jobs with good benefits. On Staten Island, an extension of the wharf at Rowland Hook is underway. When it's finished later this year, it will add 200 permanent jobs, and make the marine terminal there competitive with port facilities in New Jersey.
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New York City's Economy On the Rise
New York City's economy is on the rebound. Unemployment, while still too high, is falling; last month, it dropped below 8% citywide for the ...
See the full content of this document