Crains New York - January 7, 2013 - (Page 1)
CRAIN’S
NEW YORK BUSINESS
®
VOL. XXIX, NO. 1
CROSSFIT GAINS TRACTION This super-gym is growing fast P. 21
JANUARY 7-13, 2013 PRICE: $3.00
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More outlook
Greg David City’s climb will continue p.11 Chinese invade And they’re here to shop p.11 Temporary gains Temping is NYC’s hottest job sector p.12 Borough bites A post-Sandy look beyond Manhattan p.12 Drought fears Property sales will slow after 2012’s frenzy p.14
GROWING PAINS
Experts say the city won’t sustain its jobs boom in 2013. But wait till next year
BY ANNIE KARNI
guy parsons
ECONOMIC OUTLOOK
NEWSPAPER
It’s going to be a year of slow growth. Even though Congress didn’t send the country over the fiscal cliff and Sandy rebuilding efforts will spur construction, the city will add about one-third fewer jobs than last year. Wall Street will be the key culprit as layoffs continue, and a global economic downturn will curtail the expansion in sectors like tourism. “I would expect the rate of job growth to slow substantially after two very strong years in the face of a sluggish national economy and a weak financial-services sector, particularly early in the year,” said Ken McCarthy, chief economist for Cushman & Wakefield. The city is expected to add only 51,000 jobs over the next 12 months, according to an estimate See GROWTH on Page 14 by the city’s Independent Budget Office, compared with 76,000
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Table of Contents for the Digital Edition of Crains New York - January 7, 2013
IN THE BOROUGHS
IN THE MARKETS
THE INSIDER
SMALL BUSINESS
BUSINESS PEOPLE
OPINION
REPORT: ECONOMIC OUTLOOK
GREG DAVID
FOR THE RECORD
REAL ESTATE DEALS
CLASSIFIEDS
NEW YORK, NEW YORK
SOURCE BREAKFAST
OUT AND ABOUT
SNAPS
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