NYC Economy vs Washington DC Economy

While New York Bleeds, Washington Thrives
https://www.businessweek.com/bwdaily/dnf ... _top+story

News is, Washington DC area economy is thriving while NYC economy is plummeting. Perhaps, it will be easier for people to search for jobs/internships in the DC area, compared to NYC. (I wonder how GTown Bschool recruiting is....)

1) Moody's Economy.com estimates that metro Washington's economy will actually grow 2.5% from mid-2008 through mid-2010. New York's economy is expected to shrink 4.2%. Washington is getting a boost from government spending to fight the recession and fix the financial system, as well as the ongoing expenses of fighting wars in Iraq and Afghanistan and promoting homeland security.

2) The New Talent Magnet
By at least one measure, it's Washington rather than New York that's attracting the best and brightest these days: According to George Mason University's Center for Regional Analysis, metro Washington leads the nation in the share of jobs that are in high-tech and the share of workers with advanced degrees.

3) As for New York, the mix—and the outlook—is bleak. Finance typically accounts for 32% of the metro region's output, mostly because finance jobs pay so well. But pay limits, combined with job cuts, will harm everything from condos to car dealerships. New York State Labor Dept. analyst James Brown says, "There will still be a need for capital-raising, but it's pretty clear the sector won't be as profitable or as large."

4) Mayor Michael Bloomberg on Feb. 18 announced a $45 million plan to retrain investment bankers, traders, and others who have lost jobs on Wall Street. The money will also provide startup money and office space for new businesses by the former Wall Streeters. https://www.nytimes.com/2009/02/19/nyreg ... .html?_r=1