The city that never sleeps might need to take a nap because numbers show its heading on a decline.
The city is actually less desirable than Detroit, Baltimore, Chicago and Birmingham, according to U.S. News & World Report. New York was ranked No. 96, just ahead of Fresno, Stockton, Modesto and San Juan. These rankings were calculated based on a city’s job market, quality of live, living desirability and overall value.
This was not the first report released to demean New York from its previous glory. Although the city was previously thought to house endless job and career opportunities, recent analysis that this may not be necessarily true. WalletHub did an analysis on 2017’s Best and Worst Cities for Jobs. “After comparing the 150 most populated cities across categories such as professional opportunities, starting salary, commute time, and cost of living, WalletHub ranked New York City outside the top 100 best cities for jobs.” Off the 150 cities analyzed, New York City ranked 122 for job opportunities.
Additionally, the cost of living in New York City is nearly 70% higher than the national average after taking all expenses into account — housing costs, food prices, transportation costs and other living expenses, according to SmartAsset reports.
This all goes without saying, that New York is still a major cultural hub: Drawing people internationally with diverse cultures and languages, creating a very diverse and interesting city. But it is a concern that as New York prices become too expensive for New Yorkers, the natives leave and the internationals come in.
I am by no means an expert on this topic, but what is happening in New York is hard to ignore and beckons contemplation on what the future of this city will look like. So what do you think, has NYC lost its edge?