Something strange is happening in Coney Island – and for once, it doesn’t involve a sideshow.

Photo courtesy of nycgo.com

While many New Yorkers are struggling to find work, Coney Island and neighboring Brighton Beach are adding jobs at a freakishly (pardon the pun) fast rate.

A state report released at the end of July found that the Coney/Brighton area added more than 27,000 retail, healthcare, and education jobs in 2010 – a monstrous 7.1% leap, compared to the .9% increase found elsewhere in NYC.

But the gains may not be as stellar as they appear. City Limits points out that the ambitious plans for pricey new condos and retail buildings in Coney Island have yet to actually materialize, and the confusion over Coney’s new zoning makes it harder to interpret the state economic data.

And small, family-owned businesses – once the heart of this oceanfront town’s economy – are barely keeping afloat. Local institutions like Coney Island Bialys and Bagels may not make it through 2011.

Suffice it to say, the economy of greater Coney Island may be in for one bumpy ride.

Just for fun: Here’s a cool time-lapse video of the construction of Coney’s new Scream Zone amusement park.