The pace of New York’s recovery is slackening

The city’s recovery continued its slow recovery last month—perhaps a reality check for elected officials who have been asking office workers to return to business districts and residents to go out and spend more money.

New York City employers added 13,900 jobs in February, seasonally adjusted, and a total of 20,500 in the first two months of the year, according to the state Department of Labor.

That puts the total at 4.4 million, 6% lower than the record 4.7 million positions in January 2020.

The unemployment rate dropped from 7.6% to 7%—a faster decrease than has been seen throughout the Covid-19 pandemic recovery. The number, however, is particularly

→ Continue reading at Crain's New York Business

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