NY unemployment improved, but still critical
Jun 19, 2020 5:30 am
Nick Reisman is reporting for State of Politics the statewide unemployment rate improved in May from the historic high of 15.3 percent in April, but it remains at 14.5 percent, the state Department of Labor announced June 18. The overall private-sector job count stands at 6.6 million. The slightly improved employment picture comes as regional economies begin to reopen. The national unemployment rate decreased by a comparable amount in May as well, due to the reopening of some businesses across the U.S. Most regions in New York are now in Phase 3 of the reopening, and New York City is expected to reach the second phase on June 22. However, the employment picture is expected to remain dismal for months, if not years. The leisure and hospitality sector recorded the largest decline among industries, losing more than 601,000 jobs over the past year. The trade, transportation and utilities sector lost nearly 321,000 jobs. Read the full story at nystateofpolitics [dot] com.