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Article: New York-New Jersey economic revival will require rational, long-range planning. (includes related article)
- Article from:
- Westchester County Business Journal
- Article date:
- April 22, 1991
- Author:
CopyrightCOPYRIGHT 1991 Westfair Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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New York-New Jersey economic revival will require rational, long-range planning
For the economies of New York and New Jersey, the recession began early in 1990 and will continue throughout 1991. By the fourth quarter of this year, the economies should begin to stabilize, creating the opportunity for very modest growth gains -- 0.3 to 0.6 percent -- in employment in 1992.
The 1983-87 regional expansion was driven by the financial and real estate sectors. By the late 1980s, the expansion was being sustained through record levels of debt in each the major sectors of the economy: household, business and government.
The stock market's crash in October ...