Gov. Hochul budget shows NYC hotels, tourism, retail won’t recover jobs until 2026By Carl Campanile and Bernadette Hogan
January 19, 2022
Gov. Kathy Hochul’s spend-happy $216 billion budget hides a more grim picture within — of New York City’s pandemic-ravaged and still lagging job market.
The hard-hit hotel and tourism industry and retail sectors — devastated by travel restrictions and lockdowns during COVID-19 outbreaks since the spring of 2020 — won’t recover all the lost pre-pandemic jobs for another three to four years, according to the governor’s economic revenue and outlook submitted with her budget proposal
“While other sectors have improved markedly, the retail, wholesale, and leisure and hospitality and other services sectors lag the most in their recoveries and are not projected to recover before 2026,” the governor’s forecast said.
During a presentation on Tuesday, state budget director Robert Mujica said the leisure and hospitality industry lost 30 percent of its jobs during the pandemic “and they are recovering the slowest.”
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Source:
https://nypost.com/2022/01/19/hochul-budget-shows-nyc-hotels-tourism-and-retail-wont-recover-jobs-until-2026/
