New York, NY, United States, 05/02/2021 / New York Injury News /
Mayor Bill de Blasio staked a foothold along a critical frontier in New York City’s pandemic recovery with the announcement of $155 million investment in small businesses, including $5.5 million for workforce development programming. With an unemployment rate jumping fivefold to a high of over 20% last June, the city’s economy has been devastated by the COVID-19 pandemic.
Half-Million City Residents were Unemployed During Pandemic
Jobs such as hospitality, nightlife, retail, and transportation have contracted significantly. Health and technology sectors that have emerged from the pandemic are poised to boom. In the molten industrial landscape, nearly a half-million city residents are unemployed and seeking new ventures.
Fast Economic Growth of Industries is Uncertain
Post-economic conditions are very uncertain. Tourism and restaurants are about to start their business, but it is unclear how fast those industries grow. The new school economist James Parrot said in the news that – we need to develop many ways to get people back to work.
Outbreak Effects on Jobs
The labor force in New York City has suffered greater than the other states of the Nation, with an 11.7% unemployment rate in March -According to the U.S. Bureau of labor statistics. Recovery could be slowed because of the decline in face-to-face businesses, such as tourism and nightlife, which make up a significant portion of New York’s economy.
Young Workers Were Hit Hard By the Pandemic
For young job-seekers, the pandemic has been a very hard time as many have lost their jobs due to the pandemic. According to a report from the city’s Disconnected Youth Task Force, the number of young people aged between 18 and 24 who are both out of school and are unemployed likely doubled during the pandemic. Before it was, one in eight in pre-pandemics, and that has decreased to One in four post-during the pandemic.
NYC Needs More Training Programs
The city needs to invest more in training models and up-skilling in addition to infrastructure that supports jobs, like a child and health care, internet access, and financial services – says workforce development organizations. Tools like programs aimed at teaching digital literacy have become increasingly more efficient.
Bridge programming, like high school equivalency and English tutoring that includes work on basic skills needed to enter the training programs that can advance careers or launch workers in the growing sector like green jobs, tech, and care, are some of the examples.
Stimulating the Economy and Employment by NYCETC
Jose Ortiz, Jr., CEO of New York City Employment and Training Coalition (NYCETC), an association of workforce development organizations, said that – we must recognize workers as our cornerstone for prosperity and growth for communities across the city. It is said in an interview that our leaders must fundamentally shift and align systems, investments, and decision-making processes that fuel our economy toward a talent-driven economic development model.
New Yorkers Need Jobs That Offer Better Pay
Many New Yorkers will require training and connections. The latter, which can be facilitated by apprenticeship and network-building programs and models, would be based on creating high-quality jobs, which offers better pay and upward mobility.
Skill-Building Programs Should Be Encouraged
Local hiring and skill-building programs should be part of any economic development project, say, Ortiz. He also suggested that the city could allocate 10% of funding for such initiatives on building community-based hiring pipelines, which could include local recruitment and job training and agreements with private developers.
De Blasio march proposed state lawmakers pass legislation to allow the city to require contractors to hire from low-income communities and VYCHA developments and mandate apprenticeships in buildings and constructions. The proposal was supported By 133 organizations; in a letter to legislators.
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