NYC Recovery Update - April 2021

Multiple recent reports show positive signs for New York City’s recovery. Various metrics indicate that the city’s economic recovery is faring better than predicted and that more people are using public transit and visiting public spaces than last spring.

A report released last month from the Partnership for New York City showed signs of progress for the city’s economic recovery. Tax revenues have exceeded projections for 2020, with total collections down only 4% from February of 2020. Additionally, industries that suffered the greatest job losses during the pandemic are now reporting the strongest employment growth, including accommodation and food services; arts, entertainment and recreation; and retail. Read the full report here.

Last week, subway ridership hit 2 million for the first time since the onset of the pandemic. MTA officials announced that last Thursday was the highest single day total for ridership since Gov. Cuomo shut down bars and restaurants on March 16, 2020. Though ridership remains down, it is increasing, with current ridership down only 60% from pre-pandemic levels compared to the 90% decrease from last spring and summer.

Pedestrian counts from the Times Square Alliance show that people are returning to the Great White Way. According to a report in the New York Post, pedestrians are coming to Times Square despite Broadway theaters being closed. Though pedestrian counts are still down from pre-pandemic heights, the weekly average for March was almost 135,000 people, representing a 306% increase over last spring’s counts.

In Lincoln Square, pedestrians are returning and businesses are reopening. Pedestrian traffic in Lincoln Square for the last two weeks in March was up 76% over the last two weeks in March of 2020 immediately after Gov. Cuomo closed bars and restaurants on March 16, 2020. A year later, 79% of our retailers are open for business and more continue to reopen. On April 16, Film at Lincoln Center will reopen at 25% capacity following a yearlong closure. Also on April 16, the Spa at Mandarin Oriental, New York will reopen at the Mandarin Oriental, New York hotel, which recently began welcoming guests again on April 1. Check out our most recent reopenings here and visit our Neighborhood Guide for a full list of what’s currently open.

While there is much work to be done, these metrics indicate that the city is on the right path. As the recovery continues, we will monitor progress and share useful information.

Photo credit: Marc A. Hermann / MTA