New York City added 25,000 jobs in May, continuing a trend of modest gains — mostly in leisure and hospitality, such as restaurants and hotels — as the unemployment rate ticked down. But economists are increasingly alarmed by a worrisome increase [...]
But economists are increasingly alarmed by a worrisome increase in the number of long-term unemployed, defined as those who have been out of work for six months or more.
The problem is most severe among Black New Yorkers, according to James Parrott, economist at the New School’s Center for New York City Affairs. Nearly half of Black workers are long-term unemployed compared with 34% for Latino workers, 32% for white workers and 29% for Asian workers.is either officially unemployed, stuck in a part-time job when they want full-time work or so discouraged they are not even looking for employment.
But with strong growth nationally, New York continues to badly trail the rest of the country in recovery from the pandemic recession. With the May increase, New York City has regained 77% of the jobs lost in the recession. The country as a whole is nearing a complete recovery of all the jobs lost.report issued ThursdayNorth Carolina, Florida and Texas have all surpassed their pre-pandemic employment records by a little more than 2%.
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