Greater than 500,000 NYC residents unemployed as pandemic lingers
Greater than 500,000 New York Metropolis residents are nonetheless unemployed six months into the lingering coronavirus pandemic, a sobering new report launched Tuesday revealed.
The state Labor Division information confirmed that 14 p.c of metropolis residents — one in 7 — have been unemployed in September. That’s 538,694 Massive Apple residents.
The jobless charge is ten proportion factors larger than in September of 2019, when town unemployment charge was simply 3.4 p.c.
Nonetheless, the speed was a slight enchancment from August, when 16 p.c or 638,767 residents have been jobless.
The worst of the pandemic’s impression on jobs was in June, when 20 p.c or 810,177 metropolis residents have been unemployed.
New York State’s unemployment charge decreased from 12.5% in August to 9.7% in September, a noticeable bump.
However New York State’s unemployment charge of 9.7 p.c was significantly larger than the nationwide jobless charge of seven.9 p.c, and the sixth highest amongst states and 5.8 proportion factors larger than the Empire State’s unemployment charge a 12 months earlier, famous E.J. McMahon of the Empire Heart for Public Coverage.
He did say the month-to-month 2.8 p.c level drop within the state’s unemployment was a optimistic improvement, the second largest enchancment amongst states — trailing solely New Jersey’s acquire of 4.4 proportion factors final month.
Nevertheless, McMahon cautioned that digging New York’s financial system out of the pandemic-fueled recession will doubtless be a protracted slog.
He mentioned New York has 1 million fewer jobs than September of 2019 — second solely to the 1.3 million jobs that disappeared in a lot populous California.
“Within the seventh month of the coronavirus pandemic, private-sector employment in New York was nonetheless recovering extra slowly than in different states from the after-effects of the broad spring shutdowns of regular enterprise and social life,” McMahon said in a weblog put up after reviewing US Bureau of Labor Statistics information.
New York’s personal sector job depend was down 12.1 p.c decrease than a 12 months in the past.
“The Empire State’s year-to-year lower was virtually double the nationwide decline of 6.9 p.c. Just one different state—tourism-intensive Hawaii—was additional beneath its 2019 employment stage, with a decline of 21.5 p.c,” McMahon mentioned.