Current Issues in Economics and Finance
Second District Highlights

New York City’s Economy before and after September 11

February 2003 Volume 9, Number 2
JEL classification: R0, R1

Author: Jason Bram

An analysis of employment and income trends suggests that the economic impact of the September11 attack on NewYorkCity was somewhat less severe than originally thought. The attack created sizable job and income losses, but the city’s current downturn appears to stem largely from other, cyclical factors—namely, the national economy and the financial markets.

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