New York City Is Adding Jobs, But Most Don’t Pay Well

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The New York City workforce has rebounded from the Great Recession faster than the rest of the country, but much of that growth has been in low-wage sectors, according to data from the city’s comptroller.

“New York City, compared to the rest of the nation, fared reasonably well: the recession hit later and was shallower in terms of job losses, and the expansion has been more robust,” the report says.

Overall employment has grown 14% from 2007 to 2016 in New York City, compared to 4.6% nationwide, with New York City adding 529,400 new jobs net after losing 100,000 in the recession.

The analysis, looking at federal and state employment data from 2009 to 2016, shows a cratering of high-wage jobs in the early years of the downturn, as the financial crisis took out entire investment banks and severely wounded others.

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