Why Is NYC’s economy still struggling? Take a close look at construction, entertainment and retail
These three sectors explain why NYC just can’t get its groove back.
This article was originally published on by THE CITY
In the summer of 2019, with the city’s economy booming and with tourists arriving in such numbers that a record 67 million would visit New York by the end of the year, leisure and hospitality jobs hit a record 474,000.
In the summer of 2022, as the city still struggles to recover from the pandemic recession, the number of jobs at restaurants, hotels, arts and cultural institutions stands at 404,000 — a tumble by almost 15 percent.