DiNapoli: Wall Street Lags NYC Job Growth

NEW YORK CITY-The state comptroller's report notes that the Bloomberg administration is now projecting $3 billion more in property taxes over the next four years than it forecast a year ago.

By Paul Bubny | Updated on June 05, 2013

NEW YORK CITY-The largest US city may have excelled the country as a whole in adding post-recession jobs, but the city’s highest-paying employment sector, financial services, hasn’t kept pace, the state comptroller said Wednesday. A report by New York State Comptroller Thomas DiNapoli noted that the Bloomberg administration’s four-year financial plan assumes continued economic growth, but at a slower pace than in recent years.

“Since the economic recovery began in 2009, the city has added jobs at a much faster pace than the nation and has regained nearly twice as many jobs as were lost during the recession,” DiNapoli wrote in his report. “About two-thirds of the new jobs, however, have been in sectors that pay less than the citywide average salary.”

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