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Mark Zandi, chief economist for Moody’s Analytics predicts it will take New York City at least 2 years, and possibly more for New York City to recover. All of the advantages New York has to offer – Broadway, tourism, skyscrapers full of office workers, and networking opportunities are disabled by this pandemic.  2.3 million New York state residents are collecting unemployment,  1.3 million in the City alone.


Vicky Been, a city official, makes a great point to the contrary of this dreariness. New York still attracts top talent.  That is not going to change. Look at big tech (Amazon, Apple, Google, & Facebook) who collectively hired thousands of workers.  We are going to see a pivot to new and innovative industries that are helping New York’s revival.  The economic consequences here are very real, but it is not as bleak as one may think.