New York Sees Worse Economic Recovery In The Country

Moody’s analytics and CNN Business’ back-to-normal index show that states that did not completely shut down or removed lockdown restrictions quickly have recovered faster than states that dragged their reopening. The Daily Wire reports that “New York is experiencing the most sluggish economic recovery in the United States – a reality that is reportedly slowing other states’ rebounds.”

The Republican-led states of South Dakota and Florida were the first states to surpass their pre-pandemic economic levels of success. Governor Noem of South Dakota never implemented a statewide shutdown, while Governor Desantis of Florida was the first to remove shutdown orders. South Dakota, West Virginia, Montana, Florida, and Idaho lead the nation’s economic recovery.

New York is currently ranked last in post-pandemic economic recovery. It was the third strongest economy in the country behind Texas and California, but now its slow recovery is affecting the progress of the entire nation. CNN Business explains that in 2020 New York’s GDP dropped, unemployment climbed, and service and tourism-driven industries nearly stopped completely.

In addition to New York’s economic woes, the state’s largest metro area, New York City, has become a violent, chaotic, crime-ridden nightmare for tourists and locals alike, prompting Governor Cuomo to declare a disaster emergency due to gun violence.

 

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