A Message from the Comptroller
Dear New Yorkers,
As expected, U.S. gross domestic product rebounded in the third quarter (July through September) as states and localities emerged from the lockdowns of the second quarter – but is still 2.2 percent below the first quarter. Encouragingly, initial unemployment claims, both nationally and in New York City, continued to fall last week. But as our analysis of commuter railroad data shows, ridership remains roughly 75 percent below its level a year ago.
Our economic struggles haven’t deterred us. New Yorkers are coming together and working harder than ever, and their resilience, creativity and determination will be what brings our city back. I hope this weekly newsletter serves as a helpful resource and regular update on the city’s progress as we navigate the challenges ahead.
And as a reminder – tomorrow is Election Day. As of Sunday, over 1.1 million New Yorkers had voted early. If you haven’t voted yet, find your polling place here – and put on your mask and go vote tomorrow!
Scott M. Stringer