Current Issues in Economics and Finance
Second District Highlights
Job Growth in New York and New Jersey: Mid-2007 Review and Outlook
August 2007 Volume 13, Number 7
JEL classification: R10, R12

Authors: Jason Bram, James Orr, and Rae Rosen

Employment in the New York–New Jersey region expanded by about 0.9 percent in 2006. Slightly slower job growth—on the order of 0.8 percent—was recorded in the first half of 2007 and is expected to continue throughout the year, in part reflecting moderating growth in the national economy. The employment rise in New York State was led by a strong expansion of services jobs in New York City; any sustained weakening in the city’s financial sector would be unlikely to affect employment significantly until 2008.

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