The economic outlook for New York City in 2024 is in line with forecasts for the nation in many respects: slow growth and no recession, the prototypical “soft landing.”
But the not-so-good news for the five boroughs is that slow growth means no “quick takeoff” for an economy still leaving many behind. And some metrics of the city’s economic health — including average income, poverty, income inequality, and unemployment adjusted for race — have become more concerning after the pandemic, according to a prominent research group.
James Parrott is the director of economic and fiscal policies at the New School’s Center for New York City Affairs, known for its deep dives into the city’s economic health, with a focus on the people who make up so many of the numbers. He and his colleagues say that while the city has clawed its way back from the big job losses of the pandemic…
