New York State Poor In COVID-19 Economic Recovery, According To Analysis

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NEW YORK — A recent business analysis of New York State during the COVID-19 pandemic shows the state is lagging behind most of the nation in economic recovery and countering the impact of the virus.

LendingTree issued a study that shows New York has the third worst recovery rate for businesses in the nation.






The study shows consumer spending in New York was 7.6 percent less from January through August, with Wyoming leading the nation with an increase of 1.9 percent. New York ranks 36th in the country.

Job postings were down by 28.4 percent in New York, also ranking 36th.





The number of small businesses in New York that remained open during the pandemic decreased by 17.4 percent, ranking New York 26th in America. In addition, small business revenue in the state was down 27.1 percent, bad enough for 43rd in the country.

The state’s unemployment rate was last in America, with a change of 8.7 percent.











 

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