More About Jobs....

Last week I wrote that both the local economy and corresponding housing market depend on the creation of new jobs here in the city.

Well, almost on cue the NY Times reported this weekend that Employment is up on Wall Street spurring optimism that the overall NYC economy could be on the rebound. An increase in hiring is expected in both banks and some of the city's biggest real estate brokerages, analysts say, leading a potential nationwide recovery.

According to Carl Weisbrod, the former president of local business development organization The Alliance for Downtown New York "These are jobs that bring a lot of money into the city and have an impact that is out of proportion to their number".

Its still all about jobs and new job creation, today we have positive news, people are hiring and the result is that people with paychecks spend money.