1929 Wall Street Market Crash
Black Tuesday
Economy
The nation’s economy was led by New York during the Civil War and through the 1950s. During Colonial America and through the early development of our national, New York was known as one of the leading wheat growing states. And after that period when the wheat cropped declined, New York became the leader in the nation of wholesaling, retailing and manufacturing until the 1960s. New York’s success declined during the 1960s and 1970s. by 1976 the New York City lost 600,000 jobs. New York noticed a shift in dependency from manufacturing to finance. The states largest industrialized and commercial employers were all banks that were established in New York City. During the years of 1980s to 1990, New York acquired roughly around one million jobs. Many financial services were the reason for the city’s economic expansion. During the 1980’s New York economy was being completely restructured and was also growing. The services sector during this time grew fifty two percent. Finance, insurance, and the real estate industry saw an increase of 64%. New York's gross state result in 2001 was $826.5 billion; financial services contribution was $282.9 billion.
http://www.city-data.com/states/New-York-Economy.html
The nation’s economy was led by New York during the Civil War and through the 1950s. During Colonial America and through the early development of our national, New York was known as one of the leading wheat growing states. And after that period when the wheat cropped declined, New York became the leader in the nation of wholesaling, retailing and manufacturing until the 1960s. New York’s success declined during the 1960s and 1970s. by 1976 the New York City lost 600,000 jobs. New York noticed a shift in dependency from manufacturing to finance. The states largest industrialized and commercial employers were all banks that were established in New York City. During the years of 1980s to 1990, New York acquired roughly around one million jobs. Many financial services were the reason for the city’s economic expansion. During the 1980’s New York economy was being completely restructured and was also growing. The services sector during this time grew fifty two percent. Finance, insurance, and the real estate industry saw an increase of 64%. New York's gross state result in 2001 was $826.5 billion; financial services contribution was $282.9 billion.
http://www.city-data.com/states/New-York-Economy.html
Economy after September 11:
After the September 11 attack on the World Trade Center, many individuals believed that the recovery of the city would be close to impossible. There was a huge disturbance caused from the attack on economic and social life of the city. Although there was a lot of skepticism, the city’s speedy revival strengthened its position as a leading city in the 2000s economy. The most significant indication of recovery in New York City is the thriving tourism industry. “The combination of immigration, new information industries, and an improved municipal government has created a city that is now uniquely positioned for the global economy of the 21st century” (Economic Development Journal).
http://www.iedconline.org/EDJournal/Spring_06/NYC_21st_Century.pdf
After the September 11 attack on the World Trade Center, many individuals believed that the recovery of the city would be close to impossible. There was a huge disturbance caused from the attack on economic and social life of the city. Although there was a lot of skepticism, the city’s speedy revival strengthened its position as a leading city in the 2000s economy. The most significant indication of recovery in New York City is the thriving tourism industry. “The combination of immigration, new information industries, and an improved municipal government has created a city that is now uniquely positioned for the global economy of the 21st century” (Economic Development Journal).
http://www.iedconline.org/EDJournal/Spring_06/NYC_21st_Century.pdf