Brooklyn showing ‘phenomenal’ job growth
NY Fed: NYC engine for jobs in region
New York City has become an engine for job growth in the region over the last several years, with gains in the outer boroughs outpacing those in Manhattan, according to William Dudley, president and CEO of the Federal Reserve Bank of New York.
He made his remarks on Thursday at the New York Fed’s economic press briefing on the regional economy.
Dudley’s report dovetailed with figures New York State Comptroller Thomas DeNapoli released in 2014, showing that private sector employment in Brooklyn increased by 19.8 percent between 2003 and 2012, a faster rate of growth than any other borough and nearly twice the rate of the rest of the city.