New York, whose diversified economy had fueled unparalleled job growth in recent years, is now facing a bigger challenge in recovering from the pandemic than almost any other major city in the country. More than one million residents are out of work, and the unemployment rate is nearly double the national average.
The city had tried to insulate itself from major downturns by shifting from tying its fortunes to the rise and fall of Wall Street. A thriving tech sector, a booming real estate industry and waves of international tourists had helped Broadway, hotels and restaurants prosper.
Click here to view original web page at www.nytimes.com
Hiroko Masuike/The New York Times
New York, whose diversified economy had fueled unparalleled job growth in recent years, is now facing a bigger challenge in recovering from the pandemic than almost any other major city in the country. More than one million residents are out of work , and the [...]