Friday, April 1, 2016

New York City's retail sector weakens

Jobs start to decline in a surprising shift

Since the great economic expansion began in New York City in 2009, retail has added about 60,000 jobs, an eye-opening 20% increase in just six years. But recently employment in the sector has headed south, as shown by the chart, which tracks change from the year-ago month.

The Independent Budget Office first noticed the trend in preparing the economic and budget analysis it released last week. . . . more

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