Only a third of NYC residents work in what the NYC Comptroller’s office has called a “good job.” Here’s why that matters for the City’s budget, its safety net programs, and its economic resiliency.
I do think until immigration policy is changed it will be tough to change the picture much. Due to immigration restorations, NYC and other US cities are currently in a bit of a zero-sum battle over workers. We are facing the same labor issues as the rest of the US.
Good point! You can see in the first chart that the entire US is undergoing the same job loss ex-care work trend, so it’s certainly not unique to NYC.
Given that federal labor market levers are out of the City’s control though, I wanted to highlight how that trend is affecting NYC’s finances and what the city could do to attract more talent, at least domestically.
Really nice deep dive into NYC.
I do think until immigration policy is changed it will be tough to change the picture much. Due to immigration restorations, NYC and other US cities are currently in a bit of a zero-sum battle over workers. We are facing the same labor issues as the rest of the US.
Good point! You can see in the first chart that the entire US is undergoing the same job loss ex-care work trend, so it’s certainly not unique to NYC.
Given that federal labor market levers are out of the City’s control though, I wanted to highlight how that trend is affecting NYC’s finances and what the city could do to attract more talent, at least domestically.