Strong Economy Tops List of NYC Megatrends

NEW YORK CITY-The metro area economy has outpaced both expectations and the nation in recovering from the downturn, a level of performance that tops the list of six megatrends for the city, Delta Associates‘ Alexander Paul said in a presentation at the inaugural New York City Trendlines event Tuesday, sponsored by Transwestern and Delta, its research affiliate. “Our regional economy has really been a comeback story,” said Paul, EVP with Delta. Since 2000, it’s been second only to the energy-boom city of Houston in job growth.

Along with sheer numbers—Delta is projecting average growth of 90,600 new jobs per year between 2014 and 2018, faster than the pace that was set between 2004 and 2008—the mix of employment sectors has changed. “Our economy benefits when we have additional diversity and are not too dependent on any one sector,” Paul said.