NEW YORK CITY — Just 600 jobs stand between New York City and a full recovery from the coronavirus pandemic, a new study found.
The city’s job market showed healthy signs of growth in June, according to an economic snapshot released Thursday by the New York City Economic Development Corporation.
Private sector jobs grew by 16,600 last month, putting the city just a relative handful away from pre-COVID levels, the study found.
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Andrew Kimball, the corporation’s president and CEO, also highlighted that one in seven businesses in the city started in the past year, though he added a significant caveat in the snapshot’s introduction.
“Despite this overall positive backdrop, it would be remiss of me not to mention that the city’s economy faces headwinds,” he wrote. “We continue to monitor office vacancy and acknowledge that a higher interest rate environment has negatively impacted venture capital funding.”
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But, still, the snapshot is only the latest sign that the city is putting the coronavirus pandemic in the rearview mirror.
New Yorkers riding the subway may have noticed very few masks in recent months, crowds gather worry-free in public places and the once-daily drumbeat of COVID-19 statistics has stopped.
Speaking of those statistics, the city is averaging roughly 363 daily cases of COVID-19 and zero deaths from the virus, according to the latest data.
The economic snapshot found other encouraging signs that New Yorkers are returning to their daily lives.
Labor force participation in the city hit an all-time high of 62.6 percent in June, the study found.
“More New Yorkers are joining or rejoining the labor force, and more are finding jobs, which suggests the labor market continues to heal,” the study states.
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