| Sumario: | An article based on a report issued by New York State Comptroller H. Carl McCall on August 13, 1998, examines the unprecedented dependence that New York City now has on Wall Street for economic and fiscal stimulus. Various empirical measures underline Wall Street's central place in the resurgence of New York City, where job growth recently reached its highest rate since the 1950s, even though unemployment remains high. However, as the global financial market falters, signs of future trouble for the city are already appearing, with employees at brokerage firms and banks suffering as these institutions regroup in the face of falling profits. Wall Street's performance in the 1980s, its role in the city's resurgence, and the future for a New York City dominated by Wall Street are discussed in detail.
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