Image source: New York Post
The state of the economy has created a sense of desperation in major cities around the world, and New York is among those urging workers to return to their offices.
However, workers have expressed concern over attacks on the Big Apple’s subway system earlier this year.
According to Kathryn Wylde, president and CEO of the New York City Partnership, some of New York’s most powerful CEOs have looked to Mayor Eric Adams for answers.
“The executives came out very strong, saying: We can’t in conscience bring our people back to work, encourage them to ride the subways, unless we see tangible evidence that you are doing something about this,” said Wylde.
The CEOs banded together after hearing news of high-profile attacks on subway drivers.
The Murders and statistics
Michelle Go, a 40-year-old Deloitte consultant, was pushed onto a train approaching the Times Square subway station.
Five months ago, during rush hour, a gunman fired 33 shots at commuters.
Daniel Enriquez, a Goldman Sachs executive, was shot dead by another passenger in May.
With the city on the outskirts, Mayor Adams spoke to reporters shortly after Go’s murder, saying:
“To lose a New Yorker in this fashion would only continue to elevate the fears of individuals not using our subway system.”
According to the Metropolitan Transportation Authority, the number of complaints such as assault and harassment in the transportation system in 2022 will be close to that of 2019.
However, the number of travelers on the metro is still around 60% compared to three years ago. The attacks on the subway also contributed to the increase in crime in the city.
In the meantime, the police statistics indicate that the murder percentage was lower than 2021, when the United States slowly left the pandemic block.
Despite the positive data, it is even higher than in 2019.
The number of crimes also increased this year compared to last year and 2019.
Although the percentage of crime in New York City is at the lowest point, almost half of the recorded voters responded to a survey, votes as “the most urgent problem that New York City confronts today”.
The impact on Wall Street
Go and the death of Enriquez worked for the main financial institutions, arousing concern for Wall Street.
Financial firms have come out in favor of returning employees to their offices, but Goldman Sachs CEO David Solomon is concerned about the crime.
“We have to have a safe environment for people,” said Solomon.
“I think public safety is just paramount for the vitality of the cities, and the vitality of cities is paramount for economic activity in our country.”
New York is not alone as other cities have had public safety issues.
Billionaire Ken Griffin moved the Citadel headquarters from Chicago to Miami due to the city’s long-running crime spree.
The future of New York is worrying
Safety comes naturally to people, and Kathryn Wylde cares about it, especially when it comes to young people. Research shows that people are more afraid of the subway and crime.
Wall Street executives often stress the importance of young people being employed for mentoring and other career opportunities when discussing back-to-office plans.
However, Wylde is reminiscent of the 1960s, when crime rates were much higher and current residents lived through time.
“A whole generation of New Yorkers never gave a thought to their personal safety and security because we were the safest big city in America, perhaps the world,” says Wylde.
Executives like Kathryn Wylde fear that New York will lose its appeal to businesses and employees if security concerns arise.
Reference:
A spate of horrific attacks in New York has people fearful of returning to work
