Bloomber: City's Recovery Will be Quick

The city may have been slow to enter the recession but Mayor Bloomberg claims it will also be quicker to come out of it.

REPORTER: The mayor says the city hasn't experienced the same job losses as other places in the nation and has managed to attract tourists while keeping crime down.

BLOOMBERG: We had estimated roughly 200,000 job losses in the city, and so far we've only experienced 96,000. Less than half the job losses we had expected. The city is doing much better than the rest of the country.

REPORTER: But the mayor says the future depends on whether the city can hold onto its businesses and deal with its budget problems next year.