State of the New York City Economy 2025

After five years of post-pandemic recovery efforts, the city’s economy has proven resilient, while facing major economic challenges.

Our second annual State of the New York City Economy report offers a data-driven analysis of a resilient post-pandemic economy, showing a sturdy labor market, vibrant office market, and continued population growth and talent attraction in the face of national economic uncertainty. The report also notes major economic challenges, including slowing job growth, and the loss of working, middle-class families to more affordable jurisdictions outside of New York City.