Related BLS programs | Related articles
October 2011, Vol. 134, No. 10
The construction boom and bust in New York City
Rachel S. Friedman
Rachel S. Friedman was an economist in the Office for Economic Analysis and Information in the New York regional office of the Bureau of Labor Statistics when she wrote this report. She currently is a yield analyst at The Wall Street Journal. Email: firstname.lastname@example.org.
During the construction boom that began in 2000, construction employment rose later and with more intensity in New York City than in the Nation as a whole, while the eventual construction bust was later but less severe in the City than nationally; the City's gains and losses were concentrated in Manhattan, Brooklyn, and Queens.
The real estate boom and bust of the 2000–2010 decade reshaped New York City's building landscape and, with it, the City's construction industry. During this decade, the City's construction industry first gained 12,980 jobs and then lost 20,803. While similar booms and busts occurred nationally, the rise and fall in New York City's construction employment differed from the Nation's in both length and timing.
Download full article in PDF
Quarterly Census of Employment and Wages
Construction employment peaks before the recession and falls sharply throughout it—Apr. 2011.
Compensation of residential and nonresidential construction workers.—Apr. 2010.
Extended mass layoffs after 2001: a comparison of New York and the Nation.—Sept. 2008.
Structural changes in Manhattan’s post-9/11 economy.—Oct. 2006.
Within Monthly Labor Review Online:
Welcome | Current Issue | Index | Subscribe | Archives
Exit Monthly Labor Review Online:
BLS Home | Publications & Research Papers