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  "documentTitle": "NY COVID-19 Preliminary Economic Impact Assessment",
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      "text": "Total impact: 2.8% of pre-recession industry GDP",
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      "text": "In recent recessions, slower than rest of economy; For C-19, accelerated shift to digital channels and consolidation of financially impacted firms could drive downward pressure on total employment",
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      "text": "Decline in profits due to increased loan loss / claims & low interest rates; Impacts on employment limited to date; Likely significant impact on NY personal income tax revenue due to lower bonuses, capital gains",
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      "text": "Finance and Insurance: industry employment not impacted by the lockdown itself but expected headwinds due to upcoming recession",
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