The new jobless numbers from the State Labor Department are not too good, not too good at all. New York City's unemployment rate increased to 9.5 percent in June (the highest level since July 1997), while the rate outside of NYC climbed to 8.2 percent, the highest since June 1983. Last month the number of unemployed state residents jumped to 854,200, the greatest number ever on record. Low-five? And the state's overall unemployment rate soared to 8.7 percent in June, its highest level since October 1992, the same month that Sinéad O'Connor ripped up a photo of Pope John Paul II on Saturday Night Live. It wouldn't really be fair to blame all our problems on Sinéad this time, so let's just ramp up the class warfare and note that today also marked the announcement that JP Morgan's profits were up 36%, with second quarter earnings ballooning to $2.7 billion. Surely some of that largesse will be trickling down any day now!
City's Unemployment Rate Currently Highest Since 1997
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"It puts more of a burden on New York — puts more of a burden on 49 other states."
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