'The economy has stopped': one in five New Yorkers may lose their jobs by the end of June

This number is almost double that predicted by the mayor of Bill de Blasio. This assumption was made by NYC inspector Scott Stringer, writes New York Post.

“The economy has literally stopped”

As stated in the new fiscal report, this quarter the unemployment rate will be 22% with 900 thousand unemployed New Yorkers. This is the highest figure in the entire post-war history of the city, the report says.

Mayor Bill De Blasio previously predicted that 500 New Yorkers would be left without work.

“This is something that we have not seen in our entire life. We have an economy that has literally stalled, ”Stringer said during a virtual press briefing on Tuesday May 5th.

He added that it will bring "a lot of pain, especially if the city does not cope with this task."

On the subject: Forced leave or dismissal: New York runs out of money to pay municipal workers

The unemployment rate this year will be 12%, Stringer said. True, he encouraged that the economy could recover this summer.

The largest job losses occur in the food and housing sectors, as well as in the retail trade. “Workers in these industries are already among the most vulnerable and economically vulnerable,” Stringer said.

Time to save

Bill de Blasio's proposed budget savings are too dependent on reserves and one-time savings, Stringer said. He called on the mayor to make deeper cuts, including on his wife Chirlane McCray's ThriveNYC program. The budget for this program, designed to protect the mental health of citizens, is $ 1 billion. Stringer denounced "millions spent on mental health programs without showing results." "The Thrive program (Ed.) Didn't work," he said.

All city agencies and elected officials must make budget savings. His office has already committed to cutbacks. “Every penny counts and every effort must be made to protect our most vulnerable populations,” Stringer concluded.