The group also recognizes the brutality of the pandemic’s
downdraft in New York: a local unemployment rate expected to average out at
about 9.8% for 2020; a million
financially distressed households, concentrated in communities of color and
low-wage workers; about a third of the city’s 230,000 small businesses possibly
shuttered permanently; corporate sectors of the local economy, particularly
real estate, threatened; and 1.2 million office workers operating remotely
until Covid-19 abates.
downdraft in New York: a local unemployment rate expected to average out at
about 9.8% for 2020; a million
financially distressed households, concentrated in communities of color and
low-wage workers; about a third of the city’s 230,000 small businesses possibly
shuttered permanently; corporate sectors of the local economy, particularly
real estate, threatened; and 1.2 million office workers operating remotely
until Covid-19 abates.
In a wide-ranging July report attached to its letter to de
Blasio, the Partnership outlined its thoughts about how to shore up New York’s
economy and public services while also addressing rifts in the city caused by
income inequality. We’ll explore those and other ideas for reviving New York
in our next column, but we also know that none of these things will take
flight if the city, like the rest of the country, can’t embrace the idea of
government as a force for growth — and good.
Blasio, the Partnership outlined its thoughts about how to shore up New York’s
economy and public services while also addressing rifts in the city caused by
income inequality. We’ll explore those and other ideas for reviving New York
in our next column, but we also know that none of these things will take
flight if the city, like the rest of the country, can’t embrace the idea of
government as a force for growth — and good.
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