The city says there are 7,000 units under construction now and another 19,000 approved.
James W. Hughes, dean of the Edward J. Bloustein School of Planning and Public Policy at Rutgers University, cited the city’s booming residential construction sector as one of the reasons its economy is performing well. The turnaround of New York City’s economy and the move away from suburbanization have also helped, Hughes said.
Between 1950 and 2014, New Jersey added 2.3 million jobs while New York City added just 82,000. Hughes said “that era has passed,” and between 2004 and 2014, New York City added 552,000 jobs while New Jersey lost 37,000.
