'N.Y.C.’s Economy Could be Ravaged by Coronavirus Outbreak' diff viewer (15/16)

This article is from the source 'nytimes' and was first published or seen on March 16, 2020 18:30 (UTC). It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at https://www.nytimes.com/2020/03/16/nyregion/Coronavirus-nyc-economy-.html

The article has changed 31 times. There is an RSS feed of changes available.

Previous version 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 Next version

Previous version 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 Next version

Version 15	Version 16
N.Y.C.’s Economy Could be Ravaged by Coronavirus Outbreak	N.Y.C.’s Economy Could be Ravaged by Coronavirus Outbreak
2020-06-24 14:19:15 UTC	2020-07-01 10:00:31 UTC (7 days later)
The sudden and prolonged shutdown of New York City’s museums and its iconic Broadway theaters. Restaurants and bars also closed except for take out and delivery. Hotels struggling to stay open in the face of a wave of canceled reservations. Movie theaters shuttered. The evaporation of nearly all business and leisure travel to the city.	The sudden and prolonged shutdown of New York City’s museums and its iconic Broadway theaters. Restaurants and bars also closed except for take out and delivery. Hotels struggling to stay open in the face of a wave of canceled reservations. Movie theaters shuttered. The evaporation of nearly all business and leisure travel to the city.
The coronavirus pandemic is all but bringing life to a halt in the nation’s largest city, slamming the brakes on what had been a robust economy and leaving New York, which has more than 25,000 restaurants and 120,000 hotel rooms, confronting a dire threat that experts say will surely lead to sweeping layoffs and business failures.	The coronavirus pandemic is all but bringing life to a halt in the nation’s largest city, slamming the brakes on what had been a robust economy and leaving New York, which has more than 25,000 restaurants and 120,000 hotel rooms, confronting a dire threat that experts say will surely lead to sweeping layoffs and business failures.
The fallout could be more widespread than the economic damage from either of the past two crises the city had faced — the Sept. 11 terrorist attacks in 2001 or the 2008 financial crisis — said Ronnie Lowenstein, director of the city’s Independent Budget Office. “Economic activity slows and time stops,” she said. “Everything gets affected.”	The fallout could be more widespread than the economic damage from either of the past two crises the city had faced — the Sept. 11 terrorist attacks in 2001 or the 2008 financial crisis — said Ronnie Lowenstein, director of the city’s Independent Budget Office. “Economic activity slows and time stops,” she said. “Everything gets affected.”
Both of those events caused significant harm to the city’s financial health, Ms. Lowenstein said, but in both cases the city was rescued by huge infusions of federal aid.	Both of those events caused significant harm to the city’s financial health, Ms. Lowenstein said, but in both cases the city was rescued by huge infusions of federal aid.
But the coronavirus is spreading from coast to coast, leaving New York’s city and state officials pleading for help in a large crowd of their counterparts, she said.	But the coronavirus is spreading from coast to coast, leaving New York’s city and state officials pleading for help in a large crowd of their counterparts, she said.
“If it was one city under siege like 9/11, that’s one thing,” Ms. Lowenstein said. But the coronavirus pandemic is “going to be disastrous for a lot of economies across the country,” she added.	“If it was one city under siege like 9/11, that’s one thing,” Ms. Lowenstein said. But the coronavirus pandemic is “going to be disastrous for a lot of economies across the country,” she added.
New York is also particularly exposed because of its heavy dependence on domestic and foreign visitors who come to the city to watch shows, visit museums and take advantage of its vibrant night life.	New York is also particularly exposed because of its heavy dependence on domestic and foreign visitors who come to the city to watch shows, visit museums and take advantage of its vibrant night life.
The city is likely to lose as many as 500,000 jobs in businesses that cater to tourists and people moving about the city, said James Parrott, director of economic and fiscal policies at the Center for New York City Affairs at The New School. In one month, their lost wages amount to $1 billion, he added.	The city is likely to lose as many as 500,000 jobs in businesses that cater to tourists and people moving about the city, said James Parrott, director of economic and fiscal policies at the Center for New York City Affairs at The New School. In one month, their lost wages amount to $1 billion, he added.
Mr. Parrott said that those industries included hotels, restaurants, museums, movie and television production and ride-hailing apps like Uber and Lyft. Some of those businesses rely so heavily on tourists and business travelers that they probably will close and lay off most or all of their workers, as all 19 restaurants run by Danny Meyer’s company, Union Square Hospitality Group, did on Friday.	Mr. Parrott said that those industries included hotels, restaurants, museums, movie and television production and ride-hailing apps like Uber and Lyft. Some of those businesses rely so heavily on tourists and business travelers that they probably will close and lay off most or all of their workers, as all 19 restaurants run by Danny Meyer’s company, Union Square Hospitality Group, did on Friday.
The owners of Chelsea Piers, a large sports and recreation complex on the West Side of Manhattan, decided on Thursday morning to close the location, as well as two smaller centers, in Brooklyn and Stamford, Conn., for the rest of March, said David Tewksbury, one of the owners.	The owners of Chelsea Piers, a large sports and recreation complex on the West Side of Manhattan, decided on Thursday morning to close the location, as well as two smaller centers, in Brooklyn and Stamford, Conn., for the rest of March, said David Tewksbury, one of the owners.
He said that their 1,500 employees were furloughed and given two weeks’ pay but that he expected them to apply for unemployment benefits.	He said that their 1,500 employees were furloughed and given two weeks’ pay but that he expected them to apply for unemployment benefits.
Mr. Tewksbury said he was unaware if any of those employees or any of the more than 25,000 members of the three locations had tested positive for the coronavirus.	Mr. Tewksbury said he was unaware if any of those employees or any of the more than 25,000 members of the three locations had tested positive for the coronavirus.
But the decision to close, he added, was based on a concern for the health and safety of the workers and of members, and a “social responsibility” to be “a leader as opposed to a follower.”	But the decision to close, he added, was based on a concern for the health and safety of the workers and of members, and a “social responsibility” to be “a leader as opposed to a follower.”
Much like it was before the coronavirus swept across the country, the city’s economy was relatively healthy before the Sept. 11 attacks. “But,” Mr. Parrott said, “after 9/11, people woke up and realized that we were in a recession.”	Much like it was before the coronavirus swept across the country, the city’s economy was relatively healthy before the Sept. 11 attacks. “But,” Mr. Parrott said, “after 9/11, people woke up and realized that we were in a recession.”
In the wake of that shock, the New York Stock Exchange and other financial markets shut down for a few days and air travel was disrupted for weeks.	In the wake of that shock, the New York Stock Exchange and other financial markets shut down for a few days and air travel was disrupted for weeks.
But the city began to recover quickly, buoyed by support from Washington, which provided billions of dollars in disaster relief. Theaters reopened, ballgames resumed and elected officials urged New Yorkers to go out, spend money and get back to work.	But the city began to recover quickly, buoyed by support from Washington, which provided billions of dollars in disaster relief. Theaters reopened, ballgames resumed and elected officials urged New Yorkers to go out, spend money and get back to work.
The 2008 financial crisis was centered on Wall Street, where some major investment banks failed and others survived only through a massive federal bailout.	The 2008 financial crisis was centered on Wall Street, where some major investment banks failed and others survived only through a massive federal bailout.
Now, with no certainty about when life might return to normal, the full effect on the city’s economy is impossible to project, Ms. Lowenstein, director of the city’s Independent Budget Office, said. But Mr. Parrott said the city would almost surely fall into a recession that would end its longest period of expansion and job growth on record — more than 10 years.	Now, with no certainty about when life might return to normal, the full effect on the city’s economy is impossible to project, Ms. Lowenstein, director of the city’s Independent Budget Office, said. But Mr. Parrott said the city would almost surely fall into a recession that would end its longest period of expansion and job growth on record — more than 10 years.
This week, the state labor department said that New York City’s unemployment rate fell to an all-time low of 3.5 percent in January, compared with highs of about 8.5 percent in the aftermath of Sept. 11, and 10 percent during the financial crisis.	This week, the state labor department said that New York City’s unemployment rate fell to an all-time low of 3.5 percent in January, compared with highs of about 8.5 percent in the aftermath of Sept. 11, and 10 percent during the financial crisis.
The ranks of the city’s unemployed peaked between 340,000 and 400,000 in those downturns, about two and a half times the current official count.	The ranks of the city’s unemployed peaked between 340,000 and 400,000 in those downturns, about two and a half times the current official count.
The prospects for the city’s economy has changed so abruptly as so many venues have shut down that its tourism agency, NYC & Company, has shelved its forecast for the year, said Fred Dixon, its chief executive.	The prospects for the city’s economy has changed so abruptly as so many venues have shut down that its tourism agency, NYC & Company, has shelved its forecast for the year, said Fred Dixon, its chief executive.
As recently as two weeks ago, the city projected a slight increase in visitors in 2020. But that was before travel from most of Europe was banned. For now, Mr. Dixon said, the flow of international travelers has virtually dried up and it is not clear when it may resume.	As recently as two weeks ago, the city projected a slight increase in visitors in 2020. But that was before travel from most of Europe was banned. For now, Mr. Dixon said, the flow of international travelers has virtually dried up and it is not clear when it may resume.
Without tourists or business travelers, hotels in New York are struggling to continue operating and grappling with how many workers they can retain, said Fred Grapstein, chairman of the Hotel Association of New York City.	Without tourists or business travelers, hotels in New York are struggling to continue operating and grappling with how many workers they can retain, said Fred Grapstein, chairman of the Hotel Association of New York City.
“What you’re seeing, unfortunately, is the layoff of all personnel — both union and management,” Mr. Grapstein said.	“What you’re seeing, unfortunately, is the layoff of all personnel — both union and management,” Mr. Grapstein said.
~~Updated June ~~24,~~ 2020~~	Updated June 30, 2020
	Common symptoms include fever, a dry cough, fatigue and difficulty breathing or shortness of breath. Some of these symptoms overlap with those of the flu, making detection difficult, but runny noses and stuffy sinuses are less common. The C.D.C. has also added chills, muscle pain, sore throat, headache and a new loss of the sense of taste or smell as symptoms to look out for. Most people fall ill five to seven days after exposure, but symptoms may appear in as few as two days or as many as 14 days.
Scientists around the country have tried to identify everyday materials that do a good job of filtering microscopic particles. In recent tests, HEPA furnace filters scored high, as did vacuum cleaner bags, fabric similar to flannel pajamas and those of 600-count pillowcases. Other materials tested included layered coffee filters and scarves and bandannas. These scored lower, but still captured a small percentage of particles.	Scientists around the country have tried to identify everyday materials that do a good job of filtering microscopic particles. In recent tests, HEPA furnace filters scored high, as did vacuum cleaner bags, fabric similar to flannel pajamas and those of 600-count pillowcases. Other materials tested included layered coffee filters and scarves and bandannas. These scored lower, but still captured a small percentage of particles.
A commentary published this month on the website of the British Journal of Sports Medicine points out that covering your face during exercise “comes with issues of potential breathing restriction and discomfort” and requires “balancing benefits versus possible adverse events.” Masks do alter exercise, says Cedric X. Bryant, the president and chief science officer of the American Council on Exercise, a nonprofit organization that funds exercise research and certifies fitness professionals. “In my personal experience,” he says, “heart rates are higher at the same relative intensity when you wear a mask.” Some people also could experience lightheadedness during familiar workouts while masked, says Len Kravitz, a professor of exercise science at the University of New Mexico.	A commentary published this month on the website of the British Journal of Sports Medicine points out that covering your face during exercise “comes with issues of potential breathing restriction and discomfort” and requires “balancing benefits versus possible adverse events.” Masks do alter exercise, says Cedric X. Bryant, the president and chief science officer of the American Council on Exercise, a nonprofit organization that funds exercise research and certifies fitness professionals. “In my personal experience,” he says, “heart rates are higher at the same relative intensity when you wear a mask.” Some people also could experience lightheadedness during familiar workouts while masked, says Len Kravitz, a professor of exercise science at the University of New Mexico.
The steroid, dexamethasone, is the first treatment shown to reduce mortality in severely ill patients, according to scientists in Britain. The drug appears to reduce inflammation caused by the immune system, protecting the tissues. In the study, dexamethasone reduced deaths of patients on ventilators by one-third, and deaths of patients on oxygen by one-fifth.	The steroid, dexamethasone, is the first treatment shown to reduce mortality in severely ill patients, according to scientists in Britain. The drug appears to reduce inflammation caused by the immune system, protecting the tissues. In the study, dexamethasone reduced deaths of patients on ventilators by one-third, and deaths of patients on oxygen by one-fifth.
The coronavirus emergency relief package gives many American workers paid leave if they need to take time off because of the virus. It gives qualified workers two weeks of paid sick leave if they are ill, quarantined or seeking diagnosis or preventive care for coronavirus, or if they are caring for sick family members. It gives 12 weeks of paid leave to people caring for children whose schools are closed or whose child care provider is unavailable because of the coronavirus. It is the first time the United States has had widespread federally mandated paid leave, and includes people who don’t typically get such benefits, like part-time and gig economy workers. But the measure excludes at least half of private-sector workers, including those at the country’s largest employers, and gives small employers significant leeway to deny leave.	The coronavirus emergency relief package gives many American workers paid leave if they need to take time off because of the virus. It gives qualified workers two weeks of paid sick leave if they are ill, quarantined or seeking diagnosis or preventive care for coronavirus, or if they are caring for sick family members. It gives 12 weeks of paid leave to people caring for children whose schools are closed or whose child care provider is unavailable because of the coronavirus. It is the first time the United States has had widespread federally mandated paid leave, and includes people who don’t typically get such benefits, like part-time and gig economy workers. But the measure excludes at least half of private-sector workers, including those at the country’s largest employers, and gives small employers significant leeway to deny leave.
So far, the evidence seems to show it does. A widely cited paper published in April suggests that people are most infectious about two days before the onset of coronavirus symptoms and estimated that 44 percent of new infections were a result of transmission from people who were not yet showing symptoms. Recently, a top expert at the World Health Organization stated that transmission of the coronavirus by people who did not have symptoms was “very rare,” but she later walked back that statement.	So far, the evidence seems to show it does. A widely cited paper published in April suggests that people are most infectious about two days before the onset of coronavirus symptoms and estimated that 44 percent of new infections were a result of transmission from people who were not yet showing symptoms. Recently, a top expert at the World Health Organization stated that transmission of the coronavirus by people who did not have symptoms was “very rare,” but she later walked back that statement.
Touching contaminated objects and then infecting ourselves with the germs is not typically how the virus spreads. But it can happen. A number of studies of flu, rhinovirus, coronavirus and other microbes have shown that respiratory illnesses, including the new coronavirus, can spread by touching contaminated surfaces, particularly in places like day care centers, offices and hospitals. But a long chain of events has to happen for the disease to spread that way. The best way to protect yourself from coronavirus — whether it’s surface transmission or close human contact — is still social distancing, washing your hands, not touching your face and wearing masks.	Touching contaminated objects and then infecting ourselves with the germs is not typically how the virus spreads. But it can happen. A number of studies of flu, rhinovirus, coronavirus and other microbes have shown that respiratory illnesses, including the new coronavirus, can spread by touching contaminated surfaces, particularly in places like day care centers, offices and hospitals. But a long chain of events has to happen for the disease to spread that way. The best way to protect yourself from coronavirus — whether it’s surface transmission or close human contact — is still social distancing, washing your hands, not touching your face and wearing masks.
A study by European scientists is the first to document a strong statistical link between genetic variations and Covid-19, the illness caused by the coronavirus. Having Type A blood was linked to a 50 percent increase in the likelihood that a patient would need to get oxygen or to go on a ventilator, according to the new study.	A study by European scientists is the first to document a strong statistical link between genetic variations and Covid-19, the illness caused by the coronavirus. Having Type A blood was linked to a 50 percent increase in the likelihood that a patient would need to get oxygen or to go on a ventilator, according to the new study.
The unemployment rate fell to 13.3 percent in May, the Labor Department said on June 5, an unexpected improvement in the nation’s job market as hiring rebounded faster than economists expected. Economists had forecast the unemployment rate to increase to as much as 20 percent, after it hit 14.7 percent in April, which was the highest since the government began keeping official statistics after World War II. But the unemployment rate dipped instead, with employers adding 2.5 million jobs, after more than 20 million jobs were lost in April.	The unemployment rate fell to 13.3 percent in May, the Labor Department said on June 5, an unexpected improvement in the nation’s job market as hiring rebounded faster than economists expected. Economists had forecast the unemployment rate to increase to as much as 20 percent, after it hit 14.7 percent in April, which was the highest since the government began keeping official statistics after World War II. But the unemployment rate dipped instead, with employers adding 2.5 million jobs, after more than 20 million jobs were lost in April.
Common symptoms include fever, a dry cough, fatigue and difficulty breathing or shortness of breath. Some of these symptoms overlap with those of the flu, making detection difficult, but runny noses and stuffy sinuses are less common. The C.D.C. has also added chills, muscle pain, sore throat, headache and a new loss of the sense of taste or smell as symptoms to look out for. Most people fall ill five to seven days after exposure, but symptoms may appear in as few as two days or as many as 14 days.
If air travel is unavoidable, there are some steps you can take to protect yourself. Most important: Wash your hands often, and stop touching your face. If possible, choose a window seat. A study from Emory University found that during flu season, the safest place to sit on a plane is by a window, as people sitting in window seats had less contact with potentially sick people. Disinfect hard surfaces. When you get to your seat and your hands are clean, use disinfecting wipes to clean the hard surfaces at your seat like the head and arm rest, the seatbelt buckle, the remote, screen, seat back pocket and the tray table. If the seat is hard and nonporous or leather or pleather, you can wipe that down, too. (Using wipes on upholstered seats could lead to a wet seat and spreading of germs rather than killing them.)	If air travel is unavoidable, there are some steps you can take to protect yourself. Most important: Wash your hands often, and stop touching your face. If possible, choose a window seat. A study from Emory University found that during flu season, the safest place to sit on a plane is by a window, as people sitting in window seats had less contact with potentially sick people. Disinfect hard surfaces. When you get to your seat and your hands are clean, use disinfecting wipes to clean the hard surfaces at your seat like the head and arm rest, the seatbelt buckle, the remote, screen, seat back pocket and the tray table. If the seat is hard and nonporous or leather or pleather, you can wipe that down, too. (Using wipes on upholstered seats could lead to a wet seat and spreading of germs rather than killing them.)
If you’ve been exposed to the coronavirus or think you have, and have a fever or symptoms like a cough or difficulty breathing, call a doctor. They should give you advice on whether you should be tested, how to get tested, and how to seek medical treatment without potentially infecting or exposing others.	If you’ve been exposed to the coronavirus or think you have, and have a fever or symptoms like a cough or difficulty breathing, call a doctor. They should give you advice on whether you should be tested, how to get tested, and how to seek medical treatment without potentially infecting or exposing others.
Hotel owners, he added, were negotiating with the Hotel Trades Council, the powerful union that represents 40,000 workers, including room cleaners, desk clerks, waiters and bartenders. “The layoffs that we’re talking about are truly temporary, and we hope that business will pick up again soon,” Mr. Grapstein said.	Hotel owners, he added, were negotiating with the Hotel Trades Council, the powerful union that represents 40,000 workers, including room cleaners, desk clerks, waiters and bartenders. “The layoffs that we’re talking about are truly temporary, and we hope that business will pick up again soon,” Mr. Grapstein said.