New York City’s recovery lags behind the rest of the US: Only regained 56% of jobs lost in pandemic

A survey conducted by credit rating agency Fitch Ratings found that New York had regained 56 percent of jobs lost during the pandemic as of September, which was markedly worse than the Northeast's median rate of 69 percent, and the country's average rate for cities, 71 percent

New York City’s recovery after the early days of the pandemic has paled in comparison other states, new statistics show – with the city only regaining 56 percent of the jobs lost since the coronavirus first surfaced in the U.S.

Meanwhile, an influx of crime has plagued the Big Apple – an area that once flooded with tourists and then became the epicenter of the virus outbreak in the U.S.

A survey conducted by credit rating agency Fitch Ratings found that the city had regained 56 percent of jobs lost since the start of the pandemic as of September, which was markedly worse than the Northeast region’s median rate of 69 percent, and the nation’s average rate for cities, which was 71 percent.

The drastic difference can be attributed to a variety of factors, such as the slower recovery of job pertaining to food service, leisure and hospitality, which account for a quarter of the positions that have yet to be filled.

But crime is also a huge factor, as well, as New York’s recovery rate lags behind other states, statistics reveal. 

A survey conducted by credit rating agency Fitch Ratings found that New York had regained 56 percent of jobs lost during the pandemic as of September, which was markedly worse than the Northeast’s median rate of 69 percent, and the country’s average rate for cities, 71 percent

The city, which saw itself shed its menacing moniker Fear City over the past three decades after local politicians addressed astronomical crime rates seen in the 80s, has seen a spike in overall lawlessness since the pandemic surfaced in March of last year and a subsequent outpouring of it residents, suggesting an eventual return to its former, less than reputable state.

The pandemic slammed the economy in the spring of 2020 when employers slashed more than 22 million jobs as businesses closed or reduced hours in response to lockdowns and consumers staying home as a health precaution. 

The once-bustling metropolis has since seen high office vacancy rates and decreased ridership on its transit system almost two years after the pandemic first surfaced. 

On the subway, for example, weekday ridership last week was more than 40 percent below pre-pandemic levels – and the increase in crime looks to be a likely contributing factor.

Currently, the city is grappling with an increase in visible, violent crime, with horrific subway and street attacks that have left New Yorkers – and tourists – terrified.

The latest New York City crime statistics shows overall crime is up year-over-year

The latest New York City crime statistics shows overall crime is up year-over-year

Earlier in November, a man wearing a grinning mask inspired by the film The Purge attacked a stranger on the street with an ax. The 51-year-old victim was taken to a nearby hospital with a deep cut in his arm.

Days later, a man threw a Molotov cocktail into a Brooklyn bodega after an argument with employees. The workers escaped as the arsonist was about to throw a second one, but he was stopped by a witness.

An Asian woman was waiting for a subway in Times Square last week when police say a homeless man snatched her purse and shoved her onto the tracks.

The violent attack took place just before 1:45pm on the uptown R subway platform.

Witnesses immediately jumped into action and detained the suspect until police arrived to arrest him.

According to the NYPD's latest monthly numbers, overall crime was up 11.2 percent last month compared with October 2020

According to the NYPD’s latest monthly numbers, overall crime was up 11.2 percent last month compared with October 2020

That came just a few days after a New York City subway rider waiting for a train Monday was shoved onto the tracks in the latest unprovoked attack on a straphanger as crime on the public transit system continues to soar. 

The harrowing incident took place in Lower Manhattan about 5:30 am inside the Chambers Street station, where a 45-year-old man was pushed off the No. 1 train platform and onto the subway tracks by a deranged stranger.

The stunned victim was able to pull himself back up onto the subway platform before any trains approached.

Authorities said he was treated at the scene for minor injuries, including a small cut. 

What’s more, on Sunday, around midnight, a man – an up-and-coming soccer player – was randomly stabbed in the neck near Penn Station while riding the city’s subway, and later died that morning.

The man, Akeem Loney, 32, was attacked while he slept as the train was coming into the station at around 12:15am.

He was then taken by EMS to Bellevue Hospital where he died from his injuries an hour later.

A map showing the New York City boroughs where crime has increased (in red) and decreased (in green) in September 2021 - the last month included in Fitch's survey - compared to the same month last year

A map showing the New York City boroughs where crime has increased (in red) and decreased (in green) in September 2021 – the last month included in Fitch’s survey – compared to the same month last year

His attacker was seen on surveillance cameras and could be seen running out of the station.

It’s currently unclear what led to the incident, but the man was slashed across the face. A suspect has not yet been identified.

There was no word on the man’s condition as police look for the attacker.

The NYPD are now asking for the public’s help in attempting to hunt him down.

Back in June, Bronx siblings Christian, five, and Mia, 13, were nearly killed as a gunman fired wildly at an alleged gang rival who tripped over the children as he fled. 

Back in June, Bronx siblings Christian, five, and Mia, 13, were nearly killed as a gunman fired wildly at an alleged gang rival who tripped over the children as he fled

Back in June, Bronx siblings Christian, five, and Mia, 13, were nearly killed as a gunman fired wildly at an alleged gang rival who tripped over the children as he fled

Miraculously, neither of the kids were struck but they were directly in the line of fire. 

It was still light out and the parents watched in horror from the window of their first floor apartment, which is 1,000 feet away, as the kids walked down the street hand-in-hand to pick up some bread from the store. 

The apartment is just feet away from the 170th street subway station and is next to a park. It was a busy Thursday night with local families and residents filling the sidewalk.

Then, in July, two men, in a seemingly random strike, attacked a crowd on a Queens street and fired about 40 shots, injuring 10 people before fleeing on mopeds.

The shooters, who were in the North Corona neighborhood, targeted members of the Trinitarios gang, police said, but they opened fire near pedestrians outside a barbershop and at a birthday party in a restaurant. 

The victims ranged from ages 19 to 72, including a 72-year-old woman and a 70-year-old man, both of whom were shot in the leg, in addition to seven other men and another woman. All were hospitalized with non-life-threatening injuries, according to police. 

Three of them were the intended targets, police said.

The most seriously injured victim suffered a gunshot wound to the stomach, NYPD Chief of Detectives James Essig said. 

‘The two males immediately extended their arms and began firing in the direction of a group in front of the barber shop down the street,’ he said. ‘This was, as I can most accurately describe it, a brazen, coordinated attack.’

In July, two men, in a seemingly random strike, attacked a crowd on a Queens street and fired about 40 shots, injuring 10 people before fleeing on mopeds

In July, two men, in a seemingly random strike, attacked a crowd on a Queens street and fired about 40 shots, injuring 10 people before fleeing on mopeds

But New York’s surge in crime can be seen at its worst in the city’s subway system – which has likely led to the reduced ridership.

From the week of November 8 to November 14, transit crimes skyrocketed by 140 percent from the same week in 2020. In the last 28 days, transit crime went up 45 percent from the same period last year, with 186 crimes reported.

According to the NYPD’s latest monthly numbers, overall crime was up 11.2 percent last month compared with October 2020. Robbery was up by 15.8 percent and felony assault rose by 13.8 percent.

Meanwhile, gun violence in the borough has significantly increased, with 28 percent more shootings reported this year as compared to last, according to police data.

Lame-duck Mayor de Blasio this month blamed the courts for New York City’s skyrocketing crime numbers as he touted a small decrease in the murder rate while ignoring an 11 percent jump in overall crime over October 2020.

The loss of tourism has also largely contributed to the city’s slow recovery. 

New York ranked 48 out of 53 of the US’ most populous cities in recovering the jobs lost during the pandemic as of September, according to Fitch’s analysis of federal data.

Tourists have since started to return to the city, despite the prevailing crime problem – with the jobless rate falling to 9.4 percent last month, the lowest its been since the pandemic surface. However, it is still well short of that number – which was 3.8%. 

The statistic still demonstrates a marked improvement since the spring of last year, when the pandemic was at its height – which saw the rate skyrocket to 20 percent in May of that year.

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