New York City and State Lag in Economic Growth
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Both New York City and New York State lag in economic growth when compared to the nation, with multiple economic indicators growing at a slower rate than the rest of the country, a new report says.
The Business Council of New York State yesterday issued a report showing that between 1995 and 2005, New York’s total personal income, per-capita income, average wages, total jobs, and population grew at a slower rate than the nation, earning the state a grade of D from the business advocacy group, with the highest grade possible being A+.
New York City received a grade of C, with its growth rates for total jobs, per capita income, and total personal income trailing that of the nation.
