NY Weekly Unemployment Claims Down 85% From Last Year: Study

New York City NY

07 May, 2021

12:23 PM

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NEW YORK CITY — Unemployment claims in New York continued a sharp dip from high levels at the coronavirus pandemic's peak, according to a new study. The Empire State's recent weekly unemployment claims were down 85 percent from the same point last year — the 20th biggest drop in the nation, the WalletHub study found. The state's overall decrease in jobless claims from the start of 2020 is about 36 percent, the fourth biggest drop in all the states, according to the study. Jobless claims nationwide are down 92 percent since the pandemic's peak, the study found. "Unfortunately, no state had unemployment claims last week that were better than before the pandemic," the study stated. The numbers paint a picture of a steady, if still-tenuous recovery for New York. New York City's unemployment rate finished March 2020 at 4.2 percent, according to the state's last jobs report. The city's rate was 11.2 percent in March this year, the report stated. Many job sectors in the city, notably entertainment and tourism, still have yet to return to full strength. Officials have proposed a variety of programs to bring back workers, such as newly announced New York City Artist Corps — which will employ 1,500 artists and performers — and a $30 million tourism campaign. Read the WalletHub study here.