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Author: Bureau of Labor and Statistics Publisher: CreateSpace ISBN: 9781500692230 Category : Political Science Languages : en Pages : 34
Book Description
The political, security, and social implications of the terrorist attack of September 11, 2001, have been well documented. In New York City, the events of that day resulted in the deaths of 2,699 workers from a wide range of occupational backgrounds. Of the 2,198 non-rescue workers killed in the World Trade Center, 78 percent were employed in finance, insurance, and real estate. Firefighters accounted for 81 percent of the 412 fatally injured rescue workers; 15 percent were police officers or detectives. Thirty-six percent of the 89 individuals killed on the airplanes that crashed into the towers were traveling on services-related business.The terrorist attack also had a profound impact on the city's economy, its labor market dynamics, and individual businesses. Just what the immediateand long-term economic effects of the attack were and will be on New York City has been the subject of some debate. This article joins that discussion in its analysis of employment and wage data, on a borough-by-borough basis.The article focuses on the most salient feature of the current city economy: the bifurcation of its industry into “export” and “local” economic sectors. Examining the effect of 9/11 on each of the boroughs makes it possible to isolate the “export” sector, on the one hand, which identifies New York City as a prime center of the global economy, and the “local” sector, on the other, which has its own distinct importance and relation to the city's industry.In what follows, trends in employment and wage patterns based on the Bureau of Labor Statistics (BLS) Quarterly Census of Employment and Wages (QCEW) program are compared, on a borough-by-borough basis, before and after the attack to measure the extent of the losses. The relation of these losses to the entire New York economy completes the analysis.
Author: Bureau of Labor and Statistics Publisher: CreateSpace ISBN: 9781500692230 Category : Political Science Languages : en Pages : 34
Book Description
The political, security, and social implications of the terrorist attack of September 11, 2001, have been well documented. In New York City, the events of that day resulted in the deaths of 2,699 workers from a wide range of occupational backgrounds. Of the 2,198 non-rescue workers killed in the World Trade Center, 78 percent were employed in finance, insurance, and real estate. Firefighters accounted for 81 percent of the 412 fatally injured rescue workers; 15 percent were police officers or detectives. Thirty-six percent of the 89 individuals killed on the airplanes that crashed into the towers were traveling on services-related business.The terrorist attack also had a profound impact on the city's economy, its labor market dynamics, and individual businesses. Just what the immediateand long-term economic effects of the attack were and will be on New York City has been the subject of some debate. This article joins that discussion in its analysis of employment and wage data, on a borough-by-borough basis.The article focuses on the most salient feature of the current city economy: the bifurcation of its industry into “export” and “local” economic sectors. Examining the effect of 9/11 on each of the boroughs makes it possible to isolate the “export” sector, on the one hand, which identifies New York City as a prime center of the global economy, and the “local” sector, on the other, which has its own distinct importance and relation to the city's industry.In what follows, trends in employment and wage patterns based on the Bureau of Labor Statistics (BLS) Quarterly Census of Employment and Wages (QCEW) program are compared, on a borough-by-borough basis, before and after the attack to measure the extent of the losses. The relation of these losses to the entire New York economy completes the analysis.
Author: Congressional Research Service Library o Publisher: ISBN: 9781410220653 Category : Business & Economics Languages : en Pages : 68
Book Description
The tragedy of September 11, 2001 was so sudden and devastating that it may be difficult at this point in time to write dispassionately and objectively about its effects on the U.S. economy. This retrospective review will attempt such an undertaking. The loss of lives and property on 9/11 was not large enough to have had a measurable effect on the productive capacity of the United States even though it had a very significant localized effect on New York City and, to a lesser degree, on the greater Washington, D.C. area. Thus, for 9/11 to affect the economy it would have had to have affected the price of an important input, such as energy, or had an adverse effect on aggregate demand via such mechanisms as consumer and business confidence, a financial panic or liquidity crisis, or an international run on the dollar. It was initially thought that aggregate demand was seriously affected, for while the existing data showed that GDP growth was low in the first half of 2001, data published in October showed that GDP had contracted during the 3rd quarter. This led to the claim that "The terrorist attacks pushed a weak economy over the edge into an outright recession." We now know, based on revised data, this is not so. At the time of 9/11 the economy was in its third consecutive quarter of contraction; positive growth resumed in the 4th quarter. This would suggest that any effects from 9/11 on demand were short lived. While this may be true, several events took place before, on, and shortly after 9/11, that made recovery either more rapid than it might have been or made it possible to take place. First, the Federal Reserve had eased credit during the first half of 2001 to stimulate aggregate demand. The economy responds to policy changes with a lag in time. Thus, the public response may have been felt in the 4th quarter giving the appearance that 9/11 had only a limited effect. Second, the Federal Reserve on and immediately after 9/11 took appropriate action to avert a financial panic and liquidity shortage. This was supplemented by support from foreign central banks to shore up the dollar in world markets and limited the contagion of 9/11 from spreading to other national economies. Nevertheless, U.S. trade with other countries, especially Canada, was disrupted. While oil prices spiked briefly, they quickly returned to their pre-9/11 levels. Thus, it can be argued, timely action contained the short run economic effects of 9/11 on the overall economy. Over the longer run 9/11 will adversely affect U.S. productivity growth because resources are being and will be used to ensure the security of production, distribution, finance, and communication.
Author: Howard Chernick Publisher: Russell Sage Foundation ISBN: 1610441214 Category : Social Science Languages : en Pages : 347
Book Description
The strike against the World Trade Center on September 11, 2001, was a violent blow against the United States and a symbolic attack on capitalism and commerce. It shut down one of the world's busiest commercial centers for weeks, destroyed or damaged billions of dollars worth of property, and forced many New York City employers to slash their payrolls or move jobs to other areas. The immediate economic effect was substantial, but how badly did 9/11 affect New York City's economy in the longer term? In Resilient City, Howard Chernick and a team of economic experts examine the city's economic recovery in the three years following the destruction of the Twin Towers. Assessing multiple facets of the New York City economy in the years after 9/11, Resilient City discerns many hopeful signs among persistent troubles. Analysis by economist Sanders Korenman indicates that the value of New York–based companies did not fall relative to other firms, indicating that investors still believe that there are business advantages to operating in New York despite higher rates of terrorism insurance and concerns about future attacks. Cordelia Reimers separates the economic effect of 9/11 from the effects of the 2001 recession by comparing employment and wage trends for disadvantaged workers in New York with those in five major U.S. cities. She finds that New Yorkers fared at least as well as people in other cities, suggesting that the decline in earnings and employment for low-income New York workers in 2002 was due more to the recession than to the effects of 9/11. Still, troubles remain for New York City. Howard Chernick considers the substantial fiscal implications of the terrorist attacks on New York City, estimating that the attack cost the city about $3 billion in the first two years alone; a sum that the city now must make up through large tax increases, spending cuts, and substantial additional borrowing, which will inevitably be a burden on future budgets. The terrorist attacks of September 11 dealt a severe blow to the economy of New York City, but it was far from a knock-out punch. Resilient City shows that New York's dynamic, flexible economy has absorbed the hardships inflicted by the attacks, and provides a thorough, authoritative A Russell Sage Foundation September 11 Initiative Volume
Author: M. Morgan Publisher: Springer ISBN: 0230101593 Category : Political Science Languages : en Pages : 293
Book Description
The Impact of 9-11 on Psychology and Education is the fifth volume of the six-volume series The Day that Changed Everything? edited by Matthew J. Morgan. It features forewords by Robert Sternberg and Philip Zimbardo.
Author: Lynne B. Sagalyn Publisher: Oxford University Press ISBN: 0190607041 Category : Social Science Languages : en Pages : 938
Book Description
The destruction of the World Trade Center complex on 9/11 set in motion a chain of events that fundamentally transformed both the United States and the wider world. War has raged in the Middle East for a decade and a half, and Americans have become accustomed to surveillance, enhanced security, and periodic terrorist attacks. But the symbolic locus of the post-9/11 world has always been "Ground Zero"--the sixteen acres in Manhattan's financial district where the twin towers collapsed. While idealism dominated in the initial rebuilding phase, interest-group trench warfare soon ensued. Myriad battles involving all of the interests with a stake in that space-real estate interests, victims' families, politicians, the Port Authority of New York and New Jersey, the federal government, community groups, architectural firms, and a panoply of ambitious entrepreneurs grasping for pieces of the pie-raged for over a decade, and nearly fifteen years later there are still loose ends that need resolution. In Power at Ground Zero, Lynne Sagalyn offers the definitive account of one of the greatest reconstruction projects in modern world history. Sagalyn is America's most eminent scholar of major urban reconstruction projects, and this is the culmination of over a decade of research. Both epic in scope and granular in detail, this is at base a classic New York story. Sagalyn has an extraordinary command over all of the actors and moving parts involved in the drama: the long parade of New York and New Jersey governors involved in the project, Mayor Michael Bloomberg, various Port Authority leaders, the ubiquitous real estate magnate Larry Silverstein, and architectural superstars like Santiago Calatrava and Daniel Libeskind. As she shows, political competition at the local, state, regional, and federal level along with vast sums of money drove every aspect of the planning process. But the reconstruction project was always about more than complex real estate deals and jockeying among local politicians. The symbolism of the reconstruction extended far beyond New York and was freighted with the twin tasks of symbolizing American resilience and projecting American power. As a result, every aspect was contested. As Sagalyn points out, while modern city building is often dismissed as cold-hearted and detached from meaning, the opposite was true at Ground Zero. Virtually every action was infused with symbolic significance and needed to be debated. The emotional dimension of 9/11 made this large-scale rebuilding effort unique; it supercharged the complexity of the rebuilding process with both sanctity and a truly unique politics. Covering all of this and more, Power at Ground Zero is sure to stand as the most important book ever written on the aftermath of arguably the most significant isolated event in the post-Cold War era.
Author: Shoshanah Goldberg-Miller Publisher: Taylor & Francis ISBN: 1315309246 Category : Architecture Languages : en Pages : 261
Book Description
Planning for a City of Culture gives us a new way to understand how cities use arts and culture in planning, fostering livable communities and creating economic development strategies to build their brand, attract residents and tourists, and distinguish themselves from other urban centers worldwide. Goldberg-Miller brings a new, fresh perspective to the study of creative cities by using policy theory as an underlying construct to understand what happened in Toronto and New York in the 2000s.
Author: Bureau of Labor and Statistics
Author: Bureau of Labor and Statistics
Author: Michael L. Dolfman
Author: 
Author: Congressional Research Service Library o
Author: Howard Chernick
Author: M. Morgan
Author: United States. Government Accountability Office
Author: Lynne B. Sagalyn
Author: United States. Bureau of Labor Statistics
Author: Shoshanah Goldberg-Miller