NEW YORK POST: New York City Jobs Slow To Bounce Back

NEW YORK CITY: The Big Apple lags behind the rest of the country in post-pandemic pandemic jobs recovery, a new city report has found.

The US has gained back “nearly all” jobs lost during the pandemic and is on course to surpass pre-pandemic employment levels this year — but the Big Apple isn’t expected to reach pre-pandemic levels “until late in 2025,” according to the Jan. 4 report from the city’s Independent Budget Office.

Only around 35% of the city jobs lost in calendar year 2020 had come back by the end of 2021, according to the Jan. 4 report by the city’s nonpartisan fiscal watchdog.

The city lost about 615,200 of its 4.7 million jobs in 2020 and saw just 212,600, or 35%, return in 2021, the report said.

Jobs in the hardest-hit, tourist-dependent leisure and hospitality industries are especially slow to return, the report said.

Wholesale and retail trade also suffered outsized job losses during the pandemic, and were expected to recover slower than sectors like professional services due, in part, to “in part due to IBO’s expectation of fewer people commuting into the city on a daily basis, as well as fewer tourists and business travelers.”

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https://nypost.com/2022/01/16/nyc-lags-behind-rest-of-country-in-post-p…