Mayor Bloomberg discusses the state of the economy four years after the onset of the financial crisis:
“Let me use New York as an example – but I’m sure there are other cities that have done even better than we have. Four years ago, New York City was the epicenter of the financial collapse. But since then – despite being burdened with huge job losses on Wall Street – we have been the epicenter of the national economic recovery.
…[S]ince the beginning of the national recession, the U.S. has gained back just over 40 percent of the jobs we lost. So our country is still down 60 percent.
In New York City, we have gained back more than 200 percent of the jobs we lost. So for every job we lost, we have added two more. To put that in perspective, if the rest of the country had weathered the recession as strongly as New York City, there would be 12 million more jobs today. And that would be awfully good news for the roughly 12.5 million Americans who are unemployed right now.”
Read the Mayor’s full remarks as delivered today at a forum hosted by The Economic Club of Washington, D.C.
Photo credit: Edward Reed/NYC Mayor’s Office