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Construction
Spending 1995-2010
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New York's record
building boom will have one more fairly good year before coming to a halt in
2010, when the effects of the current financial crisis will push construction
employment to its lowest level since 1997.
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The number of
construction jobs will nosedive from its peak of 130,100 this year to 100,250
in 2010
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By 2010, builders
are expected to create only 18,500 new residential units in the five boroughs
— nearly a 50% drop from the record 35,700 units this year.
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