Two New York City fiscal monitors in separate reports released yesterday compared the city's current economic problems to the crisis that gripped it in the mid-1970s and warned its economy will probably not benefit any time soon from a national recovery.

City Comptroller Elizabeth Holtzman said the latest economic analysis released by her office says the city continues to lose jobs at a very rapid rate and those numbers suggest an economic crisis similar to the 1970s, when the city was on the brink of bankruptcy.

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