Long Island’s Economy Today
Long Island’s middle class suburban lifestyle was built on the promise of hard work and a solid education for our kids. Our hopes were pinned on the idea that the next generation would do even better than the present. That promise has become harder to fulfill in the past 20 years. Today, families need to spend more than 35% of their income for housing on Long Island. The gradual decline of private sector jobs on Long Island is making it even harder. The jobs that have been created pay less than before. Pay per employee is at a 10-year low on Long Island, down 3% since 2000. In the same period, average wages in the United States grew by 4%.| read more ››