11/20/08

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Boroughs seeing more jobs created

Downtown Brooklyn

Job growth is escalating in the outer boroughs, according to Manhattan-based think tank Center for an Urban Future.

The company tracked changes in employment in more than 175 zip codes in the city between 1997 and 2007, according to a report by the think tank released today.

Staten Island had the greatest uptick in employment, with 83.3 percent of the zip codes seeing gains in employment in the decade ending in 2007. In Queens, 83.1 percent of the zip codes produced job gains, followed by 80.5 percent of zip codes in Brooklyn and 76 percent of zip codes in the Bronx.
Manhattan was at the bottom with the least amount of job growth; just under 66 percent of zip codes produced job gains over the 10-year period.  

"Manhattan is still the central business district where the most people in the New York region work," said Jonathan Bowles, director of Center for an Urban Future. "But the highest rate of growth is happening outside of Manhattan, on the fringes of the city. It's a combination of residential growth in all corners of the five boroughs, and that's probably leading to a lot more retail opportunities and more people opening businesses there."

The top five zip codes with the most growth in job creation were Downtown Brooklyn (11245), 55 Water Street (10041) and Harlem (10027, 10030 and 10026).

Zip codes with the slowest growth rate were World Trade Center (10048), Downtown Brooklyn (11242 and 11243) and Lower Manhattan (10043 and 10007).

"Lower Manhattan has some of the worst performing zip codes on the list, and it's a sign that the neighborhood is still struggling to replace a lot of the jobs that were lost after 9/11," Bowles said, adding "and many building owners have converted space from offices to residential."