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Overall, DiNapoli says New York is slowly recovering from the great recession.
¿I think there¿s good reason to have cautious optimism.¿
DiNapoli's economic report shows a handful of positive developments in 2010.
The state saw private sector job growth.
New York's Gross State Product grew after 2 straight years of decline.
And each of New York's 13 metropolitan areas saw an uptick in ecomomic output.
But the report wasn't all good news.
Private sector job growth was partially offset by government job cuts.
Home values increased upstate, but they dipped in the New York City area.
And, overall, that state has recovered only about a quarter of the jobs that were lost during the recession.
DiNapoli says the mixed findings show that New York isn¿t out of the woods just yet.
¿We have to have a dose of reality. We¿re starting to recover, but we¿re not seeing the kind of job growth that we need to see. So it¿s a recovery that¿s still very tentative and for now we need to see more jobs created to say that we¿re really out of it.¿
DiNapoli says the state should do more to shore up the small business sector if it wants to build on 2010's slow but steady economic recovery.