Analysis: City’s unemployment rate is not a reliable economic indicator

New York City’s unemployment rates remain high, surpassing the federal rate, New York state numbers and those of other states with high rates, including California and New Mexico. However, the 7% rate doesn’t tell the whole story for one big, New York City–specific reason: A big chunk of those supposedly unemployed New Yorkers are no longer New Yorkers, and some of the employed New Yorkers might not be either.

The city lost more than 300,000 residents between July 2020 and July 2021 after a much-celebrated gain of 629,000 residents in the decade leading up to 2020, reflected in the census. But the out-migration is not reflected in the

→ Continue reading at Crain's New York Business

[ufc-fb-comments url=""]

Latest Articles

Related Articles