The pandemic continues to leave an unprecedented economic crisis, with thousands of jobs lost and dozens of businesses closed.
The covid-19 pandemic in addition to a health crisis, has left in its wake an unprecedented economic crisis, in New York there is a loss of 37,200 jobs, of which 22,100 correspond to private companies.
Although the unemployment rate in New York City decreased during the month of December compared to the previous month, 11.4% and 12.1% respectively; is still higher than the state that is 8.2% and that of the country 6.7%
The hospitality that includes Hotels, bars and restaurants have been the most affected sector due to the restrictions imposed by the authorities as preventive measures against the contagion of covid-19, which in many cases include curfews, changes in capacity, or isolation of entire locations.
Almost 39% of all jobs in this sector have disappeared, This equals 366,600 people who are currently no longer working.
For the city that never sleeps, the numbers are even higher, 140,700 jobs lost, 43% of the total in the year have disappeared only the bars and restaurants, according to Andrew Rigie, executive director of the NYC Hospitality Alliance.
Rigie describes the crisis as “Something that has never been experienced before“.
In recent months, due to the Christmas and New Year festivities in the United States, a considerable increase in cases has been perceived, which despite the existence of vaccines, has made different states reach record numbers of cases, deaths and hospitalizations; and with this, as a way to counter the virus attack, more restrictions are imposed.
Between November and December 11,700 jobs have been lost in the sector, “Which can be attributed to more permanent restaurant closures, the closure of service within the premises for the second time and fewer customers on the street due to winter temperatures”, asegura Rigie.
When the same period is compared to 2019, the figures are even more outrageous. 578,000 are the jobs that have been lost in the city compared to a fall of 12.2%
In New York in addition to the hospitality industry, the education sector has also been hit hard with 157,600 fewer jobs, followed by commerce, transport and services such as water or gas.
In addition to the figures, proof of the dire situation in New York is that the governor foresees a “bleak” economic outlook, for at least four years, when the job market may pick up after the coronavirus pandemic.
“Employment in New York State is not expected to peak before the pandemic until 2025.”Cuomo said.
New York’s unemployment rate is no exception in the country
A report released Thursday by the Labor Department showed that applications for unemployment benefits fell to 900,000 last week.
The high figure is evidenced by the complicated economy that Joe Biden has inherited as president 46 of the United States, since, although the numbers have fallen, 5.1 million Americans continue to receive state unemployment benefits
“Unemployment claims continue to show a job market unable to make further progress as long as COVID-19 remains in the driver’s seat. While the vaccine offers a light at the end of the tunnel, we ‘are still far from a complete reopening of the economy that could drive rehiring and stop further layoffs, “ said Daniel Zhao, Senior Economist at Glassdoor.
You can also read: 140,000 jobs were lost in December in the US
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