NY comptroller: City economy rebounding

(AP) - State Comptroller Thomas DiNapoli says NewYork City's economy is recovering faster from the recession thanthe rest of the state and nation, but the

ALBANY - (AP) - State Comptroller Thomas DiNapoli says NewYork City's economy is recovering faster from the recession thanthe rest of the state and nation, but the higher tax revenues stillwon't close the city government's upcoming budget gaps.

DiNapoli's office says in a report yesterday that private-sectoremployment in the city rose 2.5 percent from December 2009 throughOctober, regaining almost half of 176,700 jobs lost in thedownturn.

Preliminary data show the securities industry belatedly addingjobs, slower than retailing, health care and restaurants, as WallStreet earned $21.4 billion during the first three quarters of2010.

That exceeds predictions, though the 2010 cash bonus pool isexpected to be smaller than last year's bailout-fueled $20.3billion.

advertisement | advertise on News 12

Trending Video

Officials believe the drug ring brought heroin, cocaine, 1 New drug furanyl-fentanyl hits Brooklyn streets
Wells Fargo is rolling out cardless ATMs where 2 Word on the Street: Paying by phone
Dozens of people were arrested across the borough 3 Dozens arrested in 'Operation Hardball' drug takedown
The New York Cosmos soccer team says they 4 NY Cosmos ready for home opener in Brooklyn
Officials believe the drug ring brought heroin, cocaine, 5 Kings County DA: 34 charged in sprawling drug ring

advertisement | advertise on News 12

Features

Sorry to interrupt...

Your first 5 are free

Access to News12 is free for Optimum, Comcast®, Time Warner® and Service Electric℠ video customers.

Please enjoy 5 complimentary views to articles, photos, and videos during the next 30 days.

LOGIN SUBSCRIBE