Business

Feels like a recession? You’re not alone

New York City hasn’t recovered very much from the Great Recession. The need for “emergency food” supplies has worsened — and a majority of New Yorkers are struggling economically, an analysis shows.

A St. Louis Fed nationwide study of the Survey of Consumer Finances — by extension a snapshot of many a New Yorker’s financial situation — amplifies the point. It concludes that the recession has ended for only 25 percent of the US population.

The Fed’s shocking survey, focused on wealth rather than income, would tend to favor New York over other markets on one key metric — the upward move in local housing prices.

Still, there are higher recurring local housing charges and an uneven recovery in New York prices too, analysts note.

“Since the vast majority of people have their assets in housing, you can see why this doesn’t feel like a strong recovery at all,” the St. Louis Fed’s Ray Boshara told a blogger for The Center for Retirement Research at Boston College.

“If we adjust for inflation and population growth, we’ve more than recovered that $16 trillion,” he added. “But if you break down what accounts for that wealth, about 86 percent of that recovered wealth comes from appreciation in the stock market, and only 12 percent comes from the housing market. This is highly uneven.”