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Lives - our jobs, our homes and our future plans, as well as the dozens of small decisions we face every day. Despite whatever bad memories may haunt you from ECON 101. We want to give you an economic perspective that can illuminate and distill a discussion, rather than muddy it. Our goal is to make economics accessible and useful to people who otherwise find it frightening, confusing and/or useless. Wasser, in the June 2004 Monthly Labor Review.Welcome to Economix, a blog edited by the two of us. For more information, see " 9/11 and the New York City Economy: A borough-by-borough analysis," by Michael L. The job loss figures are estimates based on a deviation-from-trend methodology.
The data in this report were collected in conjunction with the Quarterly Census of Employment and Wages. Job losses in Manhattan were about 60,000 per month and continued for four months. Reflecting both the locus of the terrorist acts and the industrial distribution of the ensuing job losses, the borough of Manhattan lost jobs as a result of the attack over a slightly longer period. About two-thirds of the attack-related job losses were in the export sector.
#NEW YORK TIMES ECONOMIX PROFESSIONAL#
The effect of September 11th was concentrated on the finance, professional services, information, arts, entertainment, management, and manufacturing industries that make up the "export" sector of the New York economy. In New York City as a whole, the attack caused an additional loss of about 143,000 jobs per month over a three-month period beyond the trend in job losses already occurring as a result of the economic recession of 2001. In addition to the human, political, security, and social implications of the terrorist attacks on the World Trade Center, there were profound impacts on New York City’s economy, its labor market dynamics, and individual businesses. In New York City, the events of September 11, 2001, resulted in the deaths of 2,699 workers.
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