New York City job and real estate growth commands public attention
The New York City economy is booming, and its job and real estate market growth significantly surpasses the rest of the nation, according to a recent report by the New York State Department of Labor.
The findings show the city has recovered all the jobs it lost in the last recession, which makes relocation to the Big Apple even more desirable as of late.
"New York City is experiencing really strong job growth," said Patrick Muncie, a spokesman for the city's Economic Development Corporation, according to the New York Post. Approximately 79,000 private-sector jobs were created in May 2012 in the city, which has played a role in the development of various communities in and around downtown Manhattan.
For example, Long Island City has begun to emerge as a major community in New York, drawing new homeowners out of the woodwork and into open condos. In fact, NY Daily News writer Jason Sheftell recently published an article describing the community as a bustling area that evokes old-world feelings of a newly settled city.
With job creation an outstanding indication of a stable market, and new communities like Long Island City offering affordable housing opportunities, homebuyers from far and wide may flock to the largest American metro area to find work or raise a family.