The city is in the middle of its worst economic crisis since the 1970s, when it nearly went bankrupt. Though officials have allowed a gradual reopening, the city’s unemployment rate climbed above 20 percent in June — the highest level in the 44 years that such data has been collected. A recent report also suggested that roughly one-third of the city’s small businesses may never reopen. The companies in the nonprofit effort said they aimed to hire 25,000 CUNY students over the next decade. “The C.E.O.s have agreed to attack the problem, specifically, deliberately and publicly,” he said in an interview.

Source: New York Times August 11, 2020 01:52 UTC