PUBLISHED 11:05 AM ET Jun. 02, 2021 PUBLISHED 11:05 AM EDT Jun. 02, 2021
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The state lost 44,400 construction jobs during the COVID-19 pandemic, the sharpest decline for the industry in 25 years, according to a report released Wednesday by Comptroller Tom DiNapoli.
The report presents yet another data point of the economic toll for New York due to the pandemic and the deep hole the economy has found itself in during the crisis.
More than half of the jobs lost during the last year were in New York City, which has been driven in large part by residential and commercial growth over the last decade.
The report pointed to construction being among the city s fastest-growing sectors from 2011 to 2019, increasing by 43.5% during that time. The pandemic brought that growth to a halt.
Cuomo: Tourism needs to recover to bring back New York PUBLISHED 1:25 PM ET May. 10, 2021 PUBLISHED 1:25 PM EDT May. 10, 2021
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New York s tourism industry needs to make a comeback to get the state s economy moving again. But first, New Yorkers and tourists alike need to feel safe, Gov. Andrew Cuomo on Monday said at a news conference. We need to get tourists back for those hotels, for those restaurants, for Broadway, Cuomo said. That s a big engine for the economy. They re not going to come back unless it s safe.
The tourism industry in New York took a billion-dollar hit over the last year, as restaurants and theaters closed along with other public gathering spots shuttered at the onset of the COVID-19 pandemic. The state is moving toward a broad reopening of the economy by May 19 by loosening pandemic restrictions, while theaters on Broadway expect to reopen by September.
Cuomo: Tourism needs to recover to bring back New York PUBLISHED 1:25 PM ET May. 10, 2021 PUBLISHED 1:25 PM EDT May. 10, 2021
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New York s tourism industry needs to make a comeback to get the state s economy moving again. But first, New Yorkers and tourists alike need to feel safe, Gov. Andrew Cuomo on Monday said at a news conference. We need to get tourists back for those hotels, for those restaurants, for Broadway, Cuomo said. That s a big engine for the economy. They re not going to come back unless it s safe.
The tourism industry in New York took a billion-dollar hit over the last year, as restaurants and theaters closed along with other public gathering spots shuttered at the onset of the COVID-19 pandemic. The state is moving toward a broad reopening of the economy by May 19 by loosening pandemic restrictions, while theaters on Broadway expect to reopen by September.
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DiNapoli spots risks in New York s new budget plan PUBLISHED 11:37 AM ET Apr. 29, 2021 PUBLISHED 11:37 AM EDT Apr. 29, 2021
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New York s new $212 billion state budget approved earlier this month boosts aid for schools and health care as well as rental assistance at a time when the state s residents are still reeling from the COVID-19 pandemic, though the economic conditions are steadily improving.
But the budget also carries increased risks for New York, including a deferral of payments for the Medicaid program, the failure to deposit any money into the state s rainy day fund and a circumvention of the state s ceiling on debt essentially rendering the cap meaningless, according to a report released on Thursday by Comptroller Tom DiNapoli.