Economies of Wall Street and New York start to diverge

New York's relationship with Wall Street is changing as the city's overall economy demonstrates greater resilience than its financial sector. Wall Street's profits were weak in 2011 by industry standards but the entire city managed to create 72,000 in the same year. While Wall Street bonuses dropped 20% in 2011 New York City's tax revenues grew by 7.2% in the fiscal year that ended on June 30, 2011.

View Full Article in:

Crain's New York Business (subscription required)

Published in Brief: