NYC Faces Slow 2024 Economic Growth and Persistent Inequality After Pandemic
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NYC's economic growth in 2024 expected to be slow with no recession, but prosperity will remain "lopsided" and many metrics like poverty and inequality are worse after pandemic
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Job growth happening in low-wage sectors like healthcare and social services, while high-paying industries losing jobs
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More commuters from outside NYC holding jobs here while fewer residents working; remote work on the rise
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Poverty rose during pandemic and income inequality now greatest among major US cities, with wages for high-income workers rising much faster
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Racial disparities persist with Black unemployment almost double white unemployment and income drops bigger for Black and Latino groups