The economy of New York is so immense and diverse that it really follows the economy of the US as a whole. All sectors are very well represented; especially the business and financial sector, and help to create some insulation for other sectors when one has a particularly bad year or during times of recession and economic hardship. The city itself is definitely feeling the effects of the recession as foreclosures and layoffs mount, but the economy of this classic city is so huge that many of these loses are negated by gains in other sectors. The labor resources will always be in oversupply in New York, but the jobs are there, if you know how and where to look.
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