Friday, April 4, 2008

Having 2 airports finally pays off

Fear of more trouble on Wall Street has sent tremors throughout New York City, but in Queens, what may matter more to the borough’s economy is the continued flow of tourists and imports through the city’s two big airports.

Rise in Wages in Queens Is Almost Highest in U.S.

Buoyed by the boom in the travel and transportation business — much of it dependent on Kennedy International and La Guardia Airports — wages rose faster in Queens than in all but one other county in the country last year, according to the latest figures from the federal Bureau of Labor Statistics. Between June 2006 and June 2007, the average weekly wage in the borough rose by 12.7 percent to $886, the bureau reported on Wednesday.

Within the city, Queens was the only borough where wages rose faster than in Manhattan. In Manhattan, which has the highest average weekly wage of all big counties in America, the average paycheck grew by 6.4 percent to $1,540, the new figures show.


Paul Krugboy said...

"There are three kinds of lies: lies, damned lies, and statistics." - Benjamin Disraeli

“The Queens economy is materially different from Manhattan’s,” said Terrence F. Martell, director of the Weissman Center for International Business at Baruch College. “To the extent it’s growing, that gives us a diversification that we don’t typically talk about.”

No, the media never STOPS talking about "diversification"!

"He added that he thought growth in Queens was also supported by enterprises started by immigrants from Korea, Bangladesh and other places."

Yes, those genetically gifted entrepeneurs from Korea and Bangladesh are going to save the feeble minded Americans from economic ruin! Let's bring in another 10 million immigrants each from both countries! Then the average weekly wage in Queens will be $3000/week!

No doubt when the next batch of statistics shows that the average weekly wages in Queens declined significantly, the media will blame it on the "racist Archie Bunker types that still remain in Queens", and there will be demands for increased welfare and social service programs along with a diversity officer posted on every street corner.

Anonymous said...

Cough! Cough! Hack! Hack! Cough!

Anonymous said...

How much of this is due to gentrification? I wonder...