NY’s job deficit continues to grow from already high pre-pandemic levels: federal dataBy Carl Campanile
March 28, 2022
New York still has 454,000 fewer private-sector jobs than it had two years ago before the coronavirus pandemic hammered the city and state — a 4.1 percent employment deficit that is the worst in the mainland U.S., an analysis of new federal labor statistics reveals.
As of February, job counts in 21 states had surpassed their pre-pandemic employment levels, according to the federal Bureau of Labor Statistics.
The US as a whole recovered 19.6 million of the 21 million jobs lost in the spring of 2020 –putting it within 1.1 percent of fully recovering all the jobs lost during the pandemic, said the analysis of the federal jobs data by EJ McMahon, senior fellow with the Empire Center for Public Policy.
But New York State was still 4.1 percent below its pre-pandemic employment level. The city’s population has also plummeted — particularly in Manhattan.
“On a percentage basis, only Hawaii and Alaska were worse off,” McMahon said.
Tourist-dependent Hawaii has 9 percent fewer jobs.
The New York jobs recovery is painstakingly slow despite the federal government pumping $270 billion into the state the past two years, he noted.
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Source:
https://nypost.com/2022/03/28/new-york-has-454k-fewer-jobs-from-pre-pandemic-era-new-federal-data-shows/
