Three years and 10 months after New York City began shutting down in the face of Covid-19, nonfarm1payroll employment in the city finally surpassed its February 2020 level this January. The preliminary, seasonally adjusted 4,737,500 employment total reported by the US Bureau of Labor Statistics this week was 27,900 jobs, or 0.6%, higher than just before the pandemic.

New York City’s jobs recovery has lagged the rest of the country, with national nonfarm payroll employment surpassing its pre-pandemic level in June 2022 and exceeding it by 3.4% as of January. The city’s workers, about one-fifth of whom commuted from the suburbs as of 2017, also clearly aren’t all coming in every day, with weekday subway and commuter rail ridership still down about 30% from pre-pandemic levels. The number of New York City residents who are employed, a figure estimated by the BLS with less reliability than the payroll numbers, was still down by 141,464, or 3.5%, as of January, and the unemployment rate was 5.2% compared with 3.7% nationally. (The national rate rose to 3.9% in February; local data for February aren’t available yet.)

QOSHE - New York City Is Back! (To Pre-Covid Employment Levels) - Justin Fox
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New York City Is Back! (To Pre-Covid Employment Levels)

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15.03.2024

Three years and 10 months after New York City began shutting down in the face of Covid-19, nonfarm1payroll employment in the city finally surpassed its February 2020 level this January. The preliminary, seasonally adjusted 4,737,500 employment total reported by the US........

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