New York City’s economy grew not as fast as the U.S. economy in 2016 and earned 30,000 less jobs when compared to 2015, but economists are slowly optimistic for 2017.
Economists say there will be growth in 2017, but at a slower rate because of the current federal and state tax plans and employment trends. Ken McCarthy, an economist at Cushman and Wakefield, sees another 80,000 jobs being added in 2017. That’s still 20,000 less jobs when compared to 2015. But McCarthy says it will be a healthy year, especially in the second half.
When Donald Trump was elected, markets looked good for Wall Street. When the inauguration happens in January, economists agree Trump will simulate economic growth through tax cuts, less spending and deregulation of Wall Street.Read More