“The New York City economy has gone sideways so far this year. New York is a leading indicator, and the flattening of employment is now showing up nationally.”

Mark Zandi, chief economist at Moody’s Analytics. His comments follow data showing New York City added just 956 private-sector jobs in the first half of 2025, the slowest growth outside a recession in decades, with key industries like finance, hospitality and retail shedding jobs. Other major metro areas, including Los Angeles, San Francisco and San Jose, have also posted modest job losses in 2025. (New York Times)