Message from the Comptroller
The COVID-19 pandemic had devastating health, economic and social consequences. In New York, the pandemic and ensuing economic shutdown produced almost 2 million job losses in 2020. Yet for many, economic hardships existed long before this time; the pandemic deepened the financial stress experienced by these households, fracturing the delicate balance often necessary to make ends meet. Even as jobs have returned, rising costs during a high inflationary period have also placed pressure on budgets, particularly for essentials like food and housing.