66% of arts, entertainment jobs lost

p 1 two thirds of new yorkand8217s arts and culture jobs have been obliterated by covid 19

New York Metropolis, as soon as a flourishing fountain of alternatives within the arts, music, and theater, has been reworked right into a cultural ghost city by the coronavirus pandemic, according to a report from the state comptroller’s workplace.

Regardless of the gradual reopening of the town’s museums, film theaters, live performance halls, and sports activities stadiums, the entertainment and leisure sector stays dramatically crippled, as final 12 months’s shutdowns value 66% of its complete jobs. In 2019, the sector employed 93,500 folks and generated $7.4 billion in wages.

Enterprise has traditionally been boosted by New York’s booming tourism business, which hosted practically 67 million guests per 12 months with a collective $70 billion to spend on leisure actions like Broadway reveals, Yankees video games, and journeys to Coney Island. However in March 2020, the sector was pressured to shut down because the pandemic grounded journey and stay-at-home orders proliferated.

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In keeping with the report, 59% of arts and entertainment corporations and 63% of sports activities and recreation venues have been shuttered, and the sector has but to get better: It’s the one main employment class in New York that is still beneath half of its pre-pandemic stage. Whereas parks and zoos have cautiously reopened, iconic institutions just like the Metropolitan Opera stay streaming solely and Broadway, a $1.8 billion outfit in 2019, remains to be darkish indefinitely.

Though 62% of the sector’s companies acquired Paycheck Safety Program loans from the federal authorities, it can take greater than that to revive New York’s standing as a celebrated and vibrant hub of tradition.

“This sector is more likely to face the toughest street to restoration and much more inventive options will probably be wanted,” learn the report.