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.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.