The Latest

Upward Revision

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I just got home and received the monthly e-mail from the New York State Department of Labor. During the annual re-benchmarking process, during which employment statistics for the past are adjusted based on more detailed data that has become available, New York City private employment was adjusted upward by a stunning amount. In fact, if the data holds up to later adjustments, annual average private wage and salary employment in the city would have been within 12,000 jobs of the all time peak in 1969. (Including the self-employed, that peak was passed some time ago).

Which just goes to show what I have come to believe. New York City's economy is no longer very dependent on Wall Street. It is New York's tax base, and the extent to which city and state residents are socked with tax increases and service cuts, that is dependent on Wall Street.

THE RACE FOR BROOKLYN’S ELEVENTH CONGRESSIONAL IN 2012.

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Since I am in my seventh year blogging in NYC, I am going to introduce a new format shortly, to supplement my “Vines” column (which I hardly do anymore anyway). I will call it “People Are Saying”. It will bring you some choice tidbits of political gossip, from my many wide and varied sources: developed after thirty nine and a half years in NYC politics.  I will try to make it a quarterly column. So strap in when you see it show up. I will try to debut said column later this month, or sometime next month. I am still working it out in my head.

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