New York City’s Journey Through the Recession

April 19, 2012 | Book Beat, CUNY Graduate School of Journalism, Newsmakers

New York City managed to survive the Great Recession largely intact and in roughly half the time it took the rest of the country to recover, thanks to its diversified economy combined with a bailout on Wall Street, according to Greg David, director of the Business and Economics Reporting Program at the CUNY Graduate School of Journalism. “The city has changed a lot — and manufacturing is no longer important,” says David. “Manufacturing is also cyclical — and the biggest sectors by jobs now are education and health, and they are not cyclical.” Formerly a business editor of Crain’s New York, David discussed his newly published book, Modern New York: The Life and Economics of a City.

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