State of the New York City Economy

After four years of post-pandemic recovery efforts, the city now is in an era of both record highs and resurgent challenges.

Our inaugural State of the Economy report offers an in-depth look at how New York City has navigated a period of transformation, responding to the impacts of a pandemic, a shifting global economy, and evolving work patterns. Grounded in data, we examine key metrics such as employment trends, commercial real estate data, and affordability indicators. We offer a nuanced view of the forces shaping New York City today, and in the years to come.

The story of New York City’s economy is complex—while the city excels on a number of metrics, structural pre-pandemic challenges such as income inequality and housing unaffordability remain, while still other metrics like office vacancy and population are showing signs of stabilization or slight improvements.