A week ago we asked our readers to comment about why NYC’s middle class has vanished 44% faster than in the rest of the United States since 1970. We cited reasons suggested by a NYC think tank, the Center for an Urban Future. One of them: a NYC job mix that had “shifted away from positions that provide middle-income wages and benefits.”
In a companion 2009 report, “Building New York City’s Innovation Economy,” CUF suggested specific ways for NYC to encourage job growth in the tech sector, including linkages between research universities and tech entrepreneurs. Continue reading →
A 2008 Brookings Institution analysis of America’s shrinking middle class showed that between 1970 and 2005, New York lost its middle income group 44% faster than the rest of the nation. Probing this, the NYC-based Center for an Urban Future published a study in February, 2009, which implicated New York’s “sky-high cost of living,” a job mix that had “shifted away from positions that provide middle-income wages and benefits,” the “inferior quality” of the city’s public schools, “long commuting times on public transportation,” and residential development that “seems disturbingly out of scale with existing neighborhoods.”
Do you know a middle class family that has left New York? Was it for any of the reasons CUF mentioned? Do those reasons fully explain why New York’s middle class is vanishing, or are other things driving the middle class out? Write us a comment and share your opinion with our readers.
A NYC blog about small businesses, The Neighborhood Retail Alliance, calls the Daily News’ editorial treatment of job losses in The Bronx “a classic case of misdirection!”