The proof is in New York City is the worst when it comes recovering jobs lost due to CoVid in the lower 48 states, according to a new study. Only Alaska and Hawaii have it worse as far as getting pre-pandemic jobs back.
New York State was still more than 4 percent below its pre-pandemic employment level. The city’s population has also plummeted — particularly in Manhattan where it lost 7% of it pre-pandemic population, according to a report by EJ McMahon, senior fellow with the Empire Center for Public Policy.
In contrast Florida has roared back surpassing the Empire State, “Two years earlier it had 357,000 fewer private-sector jobs than New York; but as of last month, private employment in the Sunshine State had grown to 244,000 jobs above the New York level,” McMahon said.
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, according to federal jobs reports.
The city is lagging worst than the overall state with 282,700 fewer jobs, or nearly 7% less, from pre-pandemic February 2020.
You can point your finger at the political leadership in the city for this outcome. Ex-Mayor Bill de Blasio and his far left progressive policies have chased many businesses out of Gotham with no reason to return. Defund the cops, vaccine mandates, bail reform and etc. told many businesses that NYC was closed.
Regionally New York state is not faring well either. New Jersey, Connecticut and Massachusetts were also hit hard with COVID-19 outbreaks and imposed identical lock downs and restrictions starting in March 2020. So, did California.
However New Jersey and California are less than a half percentage point away — 0.4% — from recovering all the pre-pandemic jobs reported in February 2020.
And so it goes. New York will suffer from disgraced ex-Governor Andrew Cuomo and Mayor de Blasio’s horrendous policies for quite a number of years when it comes to job and economic recovery.