The city's unemployment rate climbed to 20.4% in June, with a loss of roughly 760,000 private-sector jobs compared to this time last year, the state Department of Labor said Thursday
The jobs data offers the first in-depth look at New York City's economy during the month economic reopening began. The city reached phase one of economic reopening on June 8, which brought back construction, manufacturing and curbside retail. The Department of Labor’s Bureau of Labor Statistics surveyed employers the week before the city reached phase two, allowing outdoor dining and office work with limited capacity.
The state analysis said there has been a "limited resumption of economic activity" as a result, with the city adding about 121,000 non-farm jobs since an April low point, but there are still steep losses across many sectors year over year. Jobs in leisure and hospitality are down by 279,000 from June 2019, down 113,00 in professional and business services and down 74,000 in educational and health services.
In May, the unemployment rate for New York City was around 18%. Statewide, the June unemployment rate was 15.7%.
In the weeks after the crisis first erupted and shutdown most parts of the country, economists and politicians debated whether a "v-shaped recovery" was possible, defined by a sharp drop in employment that quickly rises back up after the initial shock. The numbers released today show the challenge for the city in reaching that type of recovery.
"We were at a very low unemployment level to start—3.4% in February—it will be a long time before we get back to that," said James Parrott, director of economic and fiscal policies at the New School's Center for New York City Affairs. "Getting to a situation where the unemployment rate is around 5% that would be a pretty big positive, but even that I can't foresee before the end of 2021."
A report from the New School projects the city could end 2020 with 600,000 fewer jobs than at the start of the year.
ОтсюдаГородской уровень безработицы больше 20%, а был 3.4% в начале года. При этом несмотря на практически полное снятие ограничений на работу бизнеса, продолжается рост безработицы. В настоящее время город Нью Йорк находится в фазе три, то есть у нас работает практически всё, кроме внутренних помещений ресторанов, спортзалов и массовых заведений (концертные залы, кино, развлекательные центры). Город потерял 760 тысяч рабочих мест и восстановление идет весьма вяло.
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