“The tide has begun to turn,” said William C. Dudley, president of the New York Fed. Advertisement Continue reading the main storySince 2010, tech employment in New York City has jumped by 53,000, while securities industry jobs have increased by just 12,000. There were more than 125,000 tech workers in New York City last year, nearly double the total a decade ago. The South Bronx, once synonymous with urban decay, is also on an upswing, especially around the markets in the Hunts Point area, said Jason Bram, a researcher with the New York Fed. Suburban counties like Rockland, Westchester and Nassau are also prospering again, and closer-in counties in New Jersey, like Bergen, Essex, Middlesex and Monmouth, are finally showing signs of life.

Source: New York Times August 18, 2016 23:59 UTC