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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%.

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Comments [rss]

  • JenChungsBaby

    I just got a new job so if anyone is hurting they can go apply for my old one.

  • Snoopy

    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.

  • matty

    Why do you people not like the city's financial center? Not bohemian enough?

  • citizenerased

    I wish Samuel L. Jackson was unemployed.

  • JacqueMehoff

    I sure hope so.

  • ides_of_march

    Maybe we can raise taxes and scare what's left of Wall Street right out of the city.

  • matty

    That's not so bad.

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