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Despite this slowdown, work has begun on four of five projects that call for a total of one million square feet of new retail space in Manhattan within the next three years.
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The slowdown in work meant that businesses cut staff and apprenticeships and formed one-man bands.
One of the NDA's key contractors announced 1,600 job cuts last month amid speculation about a future slowdown in work.
On New Year's Eve, a NYPD union chief said a controversial unofficial "slowdown" of work by officers concerned for their safety was "understandable".
The effect of a gloomy housing market will be offset by strong corporate balance sheets and the falling dollar (see article) but the mechanism that cushions a slowdown may work less efficiently than it has in the past.An opening bidGiven these uncertainties, next week's interest-rate decision is no more than the Fed's opening bid.
"While there continues to be some signs of growth the economy remains fragile with a slowdown in work coming in for businesses and a decrease in export orders".
The citywide concrete truck drivers' strike hit the end of its first week on Tuesday, with slowdowns and work stoppages continuing at construction sites.
Rebecca Blank, an economist who is dean of the University of Michigan's School of Public Policy, said that the best way to predict the impact of a recession was to look at the effects of past economic slowdowns on work behavior and public assistance caseloads.
During the chip market slowdown, "We worked on new technologies and invested in infrastructure," says Morgan.
Think of the slowdown in construction work in the winter or the employment swings in retail trade before and after the Christmas holidays.
So why the work slowdown?
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