nydailynews.com nydailynews.com 31 Dec, 2020 01:45 am

New data shows scope of economic devastation in NYC during COVID pandemic

New data shows scope of economic devastation in NYC during COVID pandemic
Employment dropped 18.8% in Manhattan and 18.2% in Queens in the 12 months ending in June, according to the U.S. Bureau of Labor Statistics.

New York City fared worse than the country as a whole, where employment decreased 9.(ShutterStock) The data “confirms that Manhattan has been hit really hard in terms of job loss and that’s because the restaurant sector and hotels have been so devastated and the whole performing arts and entertainment sectors,” economist James Parrott, head of the New School’s Center for New York City Affairs, told the Daily News.With many residents unable to afford health care and being home to a significant amount of front-line workers, the Bronx has the highest COVID-19 death rate in New York City.The unemployment rate for the New York City region fell from 13% in October to 12.

The national unemployment rate was much lower — 6.The job loss came as the authorities shut down restaurants, entertainment venues and many other businesses deemed “nonessential” starting in March.

Read full story at nydailynews.com