Study: Around 375,000 jobs may be lost on Long Island due to COVID-19

The county executives of Nassau and Suffolk made a joint statement at the Hilton Long Island in Melville to draw attention to the devastated economic outlook if federal assistance doesn’t come.

News 12 Staff

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Jul 9, 2020, 3:22 PM

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Updated 1,546 days ago

The county executives of Nassau and Suffolk made a joint statement at the Hilton Long Island in Melville to draw attention to the devastated economic outlook if federal assistance doesn’t come.

A study into the economic impact of COVID-19 on Long Island found that around 375,000 jobs may be lost by the end of the year, which translates to $61 billion in lost economic activity.

MORE: LIVE BLOG - Coronavirus updates from the tri-state area and beyond
READ THE REPORT: Nassau + Suffolk COVID-19 Economic Impact

The report estimates the impact on county finances will be devastating – revenue losses of around $360 million in Nassau and $325 million in Suffolk.

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The two counties are also facing major budget shortfalls — Nassau with a deficit of about $750 million and Suffolk with a deficit around $800 million.

Nassau Executive Laura Curran and Suffolk Executive Steve Bellone say that Congress needs to pass another federal aid package to help out hard hit states and local governments.

“These numbers are devastating. This report makes clear that COVID-19 has turned the Long Island economy upside down,” said Bellone. “And what do we need to do to recover? Three words. Federal disaster assistance. This burden should not be placed on the shoulders of local taxpayers, essential employees and first responders.”

If that federal help does not come, the county executives say public services we all count on could be cut. They say without federal aid, it might take more than 10 years for Long Island's economy to fully recover.

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