clock menu more-arrow no yes

Economy

Filed under:

Women With Children Having Harder Time Re-entering NYC Workforce

A new study shows 41% of women living with kids in NYC are not working compared to 24% of men with children — a lingering effect of remote school and a perpetual child care challenge.

Filed under:

Jobs Grow — Along With the Pandemic Gap Between Rich and Poor New Yorkers

The city gained 83,500 jobs in October, the biggest increase in months, as COVID infection rates dropped. But new reports show New York remains one of the most unequal cities in the nation, with the one percent accounting for a rising share of income.

Filed under:

MTA Employees Due Millions in Refunds After Pension Overcharge

An accounting flub caused thousands of transit workers to pay more than they should have into the Tier 6 pension plan for years. Now the agency is set to pay out some $4.1 million dollars to the employees.

Filed under:

Access-A-Ride Service Quality Stuck in Reverse as Traffic, Driver Absences Mount

The reliability of the MTA’s Access-A-Ride paratransit service for New Yorkers with limited mobility has sunk to its lowest level in years — even as ridership has risen to almost 80% of pre-pandemic levels.

Filed under:

As Hochul Launches Penn Station Revival Plan, Risky Bets Placed on Office Building Boom

Three of New York’s biggest real estate companies are making billion-dollar wagers that pandemic-spurred remote working will give way to a return to buildings. But can they fill millions of square feet of space amid an office glut?

Filed under:

Stories Behind New Black Tech Startups in NYC Show ‘Generational Opportunity’

From ideas for energy savings to an education app to faster payments for low-income workers, a fresh wave of Black entrepreneurs are working to make their mark on the city’s fastest-growing business sector.

Filed under:

Black Tech Entrepreneurs Invest Their Start-Up Hopes in New York

A small but rising number of Black founders are joining the city’s fast-growing tech sector. Some are getting help from Google and others. But they’re facing steep challenges attracting backers as they work to diversify and expand the crucial sector.

Filed under:

Wall Street Booms Even Amid Concerns That Jobs May Go Bust in New York

Stock market profits are headed for a record high, meaning big tax revenues for New York. But the city stands to lose 5,000 high-paying finance jobs to other states as the local unemployment rate hits twice the national average.

Filed under:

Colombian ‘Chiva’ Bus Owners Hoping Pandemic Hasn’t Killed the Party

New York City’s party bus owners are looking to get on their "discotheques on wheels" rolling again after a prolonged pandemic pit stop. But a comeback is far from assured.

Filed under:

Google Won’t Take Office Building Tax Breaks That Amazon Searched For

The online search giant, which announced plans Tuesday to open a massive Manhattan headquarters, is forgoing the benefits Amazon sought to reap for its ill-fated Long Island City headquarters, THE CITY has learned.

GOT A TIP?

We’re here to listen. Email tips@thecity.nyc or visit our tips page for other ways to share.

Filed under:

Sears Closing Brooklyn Store, Its Last Outpost in New York City

A liquidation sale is on at the Flatbush retailer, part of what was once a national retail juggernaut. Landmarking will protect the building but what comes next is unknown.

Filed under:

New York City’s Jobs Picture Grows Cloudier as Fall Approaches

Private sector jobs dropped this summer and the city’s unemployment rate was twice the U.S. average. But bright spots include public sector job growth — and signs that New York women in unions largely kept their jobs, bucking the national "shecession."

Filed under:

Can the Pandemic Give Commercial Rent Control a New Lease on Life?

Shopkeepers say the COVID recession proved the precarious position of small business owners. Landlords, staggered by empty storefronts, say they can’t afford restrictions. Now, a last-ditch rent regulation bid is headed to the City Council.

Filed under:

Commercial Districts Grapple With Slowed Return to Business as Usual

Flatiron, Hudson Square, Downtown Brooklyn and the Garment District offer four studies in survival, with just 23% of Manhattan office workers back at their desks. Lures back include pedestrian space and cultural events.

Filed under:

NYC College Neighborhood Businesses Eagerly Await Return of Students

New York City is a college town. And many businesses in university-adjacent neighborhoods count on student and faculty dollars. Will they get the in-person returns they need this fall to boost their bottom lines?

Filed under:

NYC Loses Jobs as Pandemic Recession Takes Growing Toll on Workers of Color

The city shed 14,000 positions last month while the rest of the country saw its strongest employment growth in a year. Meanwhile, the increasing challenges facing Black and Latino New Yorkers underscore structural inequities, a new study found.

Filed under:

Vaccine Mandate Offers Shot at Boosting Protection, But Businesses Wary

Store and restaurant workers will be on the frontlines dealing with the unvaccinated — and sometimes angry — public as a new city-wide requiring one dose to go inside bars, restaurants, indoor entertainment venues and gyms.

Filed under:

Film and TV Production Make a New York Comeback. But Will the Tax Credits Roll?

Work on shows from "Mrs. Maisel" to "Gossip Girl" is nearing pre-pandemic levels in Hollywood on the Hudson. Competition, though, could get fierce: California and other states are upping tax credits in grabs for a piece of the action.

Filed under:

Gowanus Could Become More Diverse After Rezoning, Racial Impact Study Finds

Filed under:

Port Authority’s Inspector General to Probe Sky-High Airport Food Prices After ‘$27.85 Beer’ Fiasco

The bi-state agency will probe whether concessions companies — including one that employs one of Gov. Cuomo’s top confidantes — are violating pricing guidelines after THE CITY revealed costly items at JFK and LaGuardia.