New York State lags behind the rest of the country in job growth following the COVID-19 pandemic, according to a new report from New York State Comptroller Thomas DiNapoli.
The Empire State has 400,000 fewer jobs today than it did in December 2019, a peak moment for employment in the state. While the rest of the US continues to see job numbers rebound, a trend that began in 2021, New York continues to struggle. Population declines and fewer people willing to join the workforce are key factors in the decline, the report states.
The current figures are a stark contrast to the previous decade of data that shows New York only shed 1% of its job force between 2011 and 2021. While a low percentage, the rest of the nation saw a 5% increase during the same time period.
Per population, New York State's labor force is still among the largest in the nation.
"Challenges may lie ahead that could negatively affect economic growth and state and local tax collections," DiNapoli said in a press release. "Policymakers must give attention to policies that foster labor participation and encourage workforce development.”
Among the regions seeing the steepest decline in the labor force are the North Country and Southern Tier, both showing a double digit decrease in the past decade.
コメント