September 19, 2008
NYC Unemployment Rate Up to 5.8%
In what the state labor department calls the "largest month-to-month increase in more than 30 years," New York City's unemployment grew 0.8% to 5.8% for August. Not surprisingly, the NY Times finds, "Many of the layoffs came in the tumbling financial sector, which is one of the city’s biggest employers and the provider of nearly one-fourth of its annual wages and salaries." Keep in mind, layoffs for Lehman and the resulting Bank of America-Merrill Lynch deal will not appear until later. The state unemployment rate is 5.8%, up from 5.2% in July; the national unemployment rate is 6.1%.
| 
add to stumble upon
add to reddit
email this
add to facebook
add to del.icio.us
Advertisement: Gothamist Continues Below!
Post a comment (Comment Policy)
[ report this ]
That's not so bad.
[ report this ]
Maybe we can raise taxes and scare what's left of Wall Street right out of the city.
[ report this ]
I sure hope so.
[ report this ]
I wish Samuel L. Jackson was unemployed.
[ report this ]
Why do you people not like the city's financial center? Not bohemian enough?
[ report this ]
The worse is yet to come. Wah Wah Wah
A lot of those fools that worked down on the street lived out of the city anyway. I really can't feel sorry about them. I feel sorry for the car service guys that transported them to their destinations.
I should have bought more stock in U.S. Cardboard Box LLC.
[ report this ]
I just got a new job so if anyone is hurting they can go apply for my old one.