New York City Chart of the Week
- Once a growth engine for the city, Manhattan’s financial services sector shrank by 6.4 percent from 2007 to 2014. The sector’s share of overall leasing activity fell by 9.0 percentage points over the same period.
- Though a small portion of overall jobs, the tech sector had the fastest employment growth in Manhattan (+40.8 percent from 2007 to 2014). This growth has boded well for higher wages and leasing activity.
- Leisure & hospitality was the second-fastest growing sector, expanding by 27.3 percent over the same period. Rising tourism has bolstered job growth in the sector.
Source: JLL Research