Even with the advance, NY State continues to be above the national unemployment average (7.9%)
Soledad in Grand Central, NYC
Andrés Correa Guatarasma / Courtesy
More than half a million residents of NYC, the most populous city in the United States, are still unemployed six months after the persistent coronavirus pandemic, revealed a new report released yesterday by the state Department of Labor.
The data showed that 14% of the city’s residents (1 in 7 people) were unemployed last month. That represents 538,694 adults.
The unemployment rate is ten percentage points higher than in September 2019, when it was only 3.7%. Still, it represents an improvement from august 2020, when unemployment was 16% (638,767 residents).
June has been the worst month of 2020, with 20% unemployment, equivalent to 810,177 adults in NYC. At the state level, the rate fell from 12.5% in August to 9.7% in September. New York Post.
After New Jersey, New York is the second state that has shown the most decline in unemployment Since August. But still with the improvement, NY continues to be above the national unemployment average (7.9%), noted E.J. McMahon of the “Empire Center for Public Policy.”
Many have warned that pulling New York’s economy out of the pandemic-fueled recession will likely go a long way.
Eight million Americans have fallen into poverty as a direct result of losing the weekly unemployment checks of an additional $ 600 from the first COVID-19 stimulus package approved by Congress in the spring, reported last week a study by the Columbia University (NYC).
In the seventh month of the coronavirus pandemic, private-sector employment in New York was still recovering more slowly than in other states from the after-effects of the broad spring shutdowns of normal business and social life: https://t.co/ AStaNqMQ5t
– Empire Center (@empirecenter) October 20, 2020