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New York’s job recovery rate is falling behind the rest of the nation, ranking second to last in the nation, according to a new report released Wednesday by the Empire Center.
Nearly two years after the pandemic, the Albany-based think tank found that the state’s private employment is trailing two-thirds of what it was before the pandemic.
The short answer is we’re not doing very well relative to the rest of the nation,” said Peter Warren, Director of Research at the Empire Center.
The report found that New York ranks 49th in the nation in job growth recovery. Only Hawaii is doing worse.
Although the shortfall is concentrated in hard-hit New York City, Warren says many areas upstate are also seeing job recovery lag.
“The vast majority of jobs lost during a pandemic across the nation, less than 2% of the jobs laws have yet to be recovered,” said Warren. “To put it in another way, about 98-percent of the jobs lost have been regained, but in New York State the situation is different. 8-percent of the jobs that have been lost have yet to be gained.”
RandyMarsh
Article URL : https://cbs6albany.com/news/local/ny-job-recovery-rate-ranked-49th-in-nation-according-to-new-report