More Jobs Forecast for NYC
Crain's New York Business said the city's 2004 employment rate is expected to increase for the first time since 2000, adding that two of the city's most important industries, retail and tourism, are likely to reach "near-record" levels.
That's good news for the city, which can expect an additional 50,000 jobs by the close of this year alone — and 70,000 more next year.
The city's job count will approach 3.6 million by the end of the year, and is set to close in on the city's employment high-water mark of 3.72 million during 2000, by the end of next year, the magazine said.
The city is doing even better than the rest of the country. The Big Apple's economy is adding jobs at a faster rate than the national economy. And it's doing it without the help of Wall Street.
Financial companies are employing about the same number of people they did this time last year. But things should soon get better on Wall Street.
A state Labor Department economist told Crain's that "as long as overall corporate profits and the gross domestic product continue to rise, Wall Street will eventually get more business and do more hiring."
That's good news for the city, which can expect an additional 50,000 jobs by the close of this year alone — and 70,000 more next year.
The city's job count will approach 3.6 million by the end of the year, and is set to close in on the city's employment high-water mark of 3.72 million during 2000, by the end of next year, the magazine said.
The city is doing even better than the rest of the country. The Big Apple's economy is adding jobs at a faster rate than the national economy. And it's doing it without the help of Wall Street.
Financial companies are employing about the same number of people they did this time last year. But things should soon get better on Wall Street.
A state Labor Department economist told Crain's that "as long as overall corporate profits and the gross domestic product continue to rise, Wall Street will eventually get more business and do more hiring."
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