In another troubling sign of the pandemic’s effect on the U.S. economy, Manhattan Borough President Gale Brewer and her staff found more than 330 vacant storefronts along New York City’s iconic Broadway, a 78 percent increase from 2017, according to a report.
Officials in Brewer’s office didn’t immediately respond to a request by The Epoch Times for comment.
“One thing is clear: returning to the pre-COVID-19 status quo is not an option. We are at a crossroads,” wrote Natasha Avanessians and Kathryn Wylde, the authors of the study, which was produced with input from 14 top global consulting firms.
“The virus seems under control, but fears of a resurgence remain. More than 1.5 million residents of the metropolitan region are currently out of work; tens of thousands of small businesses are at risk,” they wrote, warning that the tensions unleashed by the pandemic could lead to further disruption unless New Yorkers work together “for recovery and positive change.”
“The abrupt cessation of travel and tourism had a devastating impact on hospitality, retail, cultural, and entertainment venues, particularly the city’s 27,000 restaurants,” they pointed out in the study, saying that New York City’s highly valued cultural, social, and entertainment assets will most likely stay at least partially closed until next year.
“As many as a third of the 230,000 small businesses that populate neighborhood commercial corridors may never reopen,” they said, noting that the unemployment rate in the NYC metro area has skyrocketed to 18.3 percent, with as many as a million households struggling to feed their families and pay rent.
“It will be far more difficult to restart and repair the economy than it was to shut it down,” they said.
Gov. Andrew Cuomo said on Sept. 9 that New York City restaurants will be allowed to resume indoor dining on Sept. 30, although under a restrictive set of rules.
Also, one member of each party will have to give contact tracing information. There will be no bar service, and restaurants must close by midnight while being held to more stringent air filtration and purification standards.