New York jobless rate sky-high amid lingering COVID-19 shutdowns
By Carl Campanile
The lingering coronavirus pandemic continues to wreak havoc on New York’s economy and workforce — more than four months after the killer bug arrived here, sobering new data from the state Labor Department reveals.
New York State York’s unemployment rate in July was 15.9 percent — three-tenths of a percent higher than in June.
The jobless rate In New York City, where Mayor de Blasio on Tuesday said he has no plan to reopen indoor dining, was 20 percent, or one in five workers. Over half of the restaurant industry’s 300,000 workers are currently unemployed.
The unemployment rate in The Bronx was 24.9 percent — or one in four workers. That’s the worst in the state.
Even after a partial reopening of New York’s economy, the Empire State’s private sector employment count is 1.18 million lower than in July, 2019.
New York City had 646,100 fewer jobs than a year ago.
“It’s pretty bad. The numbers are very worrisome,” said EJ McMahon, an analyst with the Empire Center for Public Policy.
The statewide 15.9 percent unemployment rate was well above the national rate of 10.2 percent.
While the Big Apple suffered with the highest jobless rate, the pain was spread throughout the state — 56 of the 62 counties recorded double-digit unemployment.
“It’s more of the same bad news. The economic recovery is sluggish. This is going to be a slow, long struggle,” McMahon said.
In New York City, tourism is still way down and many hotels are empty. The Broadway theater district is closed and restaurants can only offer limited, al-fresco dining.
New York did gain 244,200 jobs in July compared to June, a growth rate of 3.6 percent. But the increase also represented only a slowdown from June, when the state added 296,400 jobs, a growth rate of 4.5 percent, McMahon noted.
https://nypost.com/2020/08/25/new-york-jobless-rate-skyhigh-amid-lingering-covid-19-shutdowns/
By Carl Campanile
The lingering coronavirus pandemic continues to wreak havoc on New York’s economy and workforce — more than four months after the killer bug arrived here, sobering new data from the state Labor Department reveals.
New York State York’s unemployment rate in July was 15.9 percent — three-tenths of a percent higher than in June.
The jobless rate In New York City, where Mayor de Blasio on Tuesday said he has no plan to reopen indoor dining, was 20 percent, or one in five workers. Over half of the restaurant industry’s 300,000 workers are currently unemployed.
The unemployment rate in The Bronx was 24.9 percent — or one in four workers. That’s the worst in the state.
Even after a partial reopening of New York’s economy, the Empire State’s private sector employment count is 1.18 million lower than in July, 2019.
New York City had 646,100 fewer jobs than a year ago.
“It’s pretty bad. The numbers are very worrisome,” said EJ McMahon, an analyst with the Empire Center for Public Policy.
The statewide 15.9 percent unemployment rate was well above the national rate of 10.2 percent.
While the Big Apple suffered with the highest jobless rate, the pain was spread throughout the state — 56 of the 62 counties recorded double-digit unemployment.
“It’s more of the same bad news. The economic recovery is sluggish. This is going to be a slow, long struggle,” McMahon said.
In New York City, tourism is still way down and many hotels are empty. The Broadway theater district is closed and restaurants can only offer limited, al-fresco dining.
New York did gain 244,200 jobs in July compared to June, a growth rate of 3.6 percent. But the increase also represented only a slowdown from June, when the state added 296,400 jobs, a growth rate of 4.5 percent, McMahon noted.
https://nypost.com/2020/08/25/new-york-jobless-rate-skyhigh-amid-lingering-covid-19-shutdowns/
