In NYC, for the first 6 months of 2025, 994 new private sector jobs were created [1]. During the same period last year, there were 66,000 new jobs created.
Higher cost of doing business from tariffs has frozen hiring. With a frozen job market, there’s less revenue coming in.
NYC is a leading indicator for the rest of the country.
[1] https://www.nytimes.com/2025/08/13/nyregion/nyc-jobs.html
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