« Special report: Jazz staying put | Main | Nets’ Harris Leads Nucleus of Young Talent »
December 1, 2008
City residents feel economy's pain
Respondents to a recent poll say the city's economy is in poor condition and 40% fear for their jobs, while 80% say they have already cut back on spending this year
Crain's NY Business
by Matthew Sollars
Wall Street's worst collapse since the Great Depression has put a scare into New Yorkers, with nearly 40% believing their jobs are at risk, a new Crain's New York Business poll shows.
A growing fear that job losses will ripple throughout the city is also causing residents to pull back on their spending—nearly 80% say they have already done so—just when the city's retailers are entering the critical holiday selling season.
"New Yorkers are hurting and scared," says Craig Charney, president of Charney Research, the firm that conducted the poll. "These numbers are startling and far worse than anything we've seen, even in the last recession."
NoLandGrab: One New Yorker not fearing for his means of support is developer Bruce Ratner, since no city or state official has made even a peep about cutting support for his Atlantic Yards project, even as everyone else is expected to make do with less. It's another case of Atlantic Yards YES, everything else NO!
Posted by eric at December 1, 2008 10:40 AM