New York's preeminence as a creative capital could soon be in jeopardy, as emerging artists—an essential component of the city’s cultural sector—are being priced out of the city.
According to a recent Freelancer's Union report, the city's creative sector—comprised of artists, photographers, designers, composers and writers—is facing increasing economic uncertainty related to a lack of stable employment. Over 40 percent report making less than $35,000 last year, half have little to no personal savings, and over a third lack proper health insurance. Ninety percent cited "unstable income" as the major disadvantage of their chosen profession.
All these factors, the study suggests, means that the city’s creative class—including its emerging artists—may leave New York in favor of cities with a "lower cost of living and developing creative centers."