Credit: Anthony Behar/Sipa USA
NEW YORK (77-WABC)- Many New Yorkers are hoping the city’s economic recovery doesn’t take too long before getting back to pre pandemic levels.
However it may not be the case.
Bloomberg reporting New York City is behind other major U.S. cities on the post pandemic economic rebound.
Fitch ratings says the city continues to suffer from the loss of tourism jobs. In September the city had regained 56 percent of the jobs lost at the height of the pandemic, which is behind the Northeast region’s median rate of 69 percent and the nation’s major metropolitan figure of 71 percent.
Analysts for Fitch point to the slower recovery of leisure and hospitality employment, which accounts for a quarter of the positions.
