The city’s unemployment rate is at 10.3 percent, its highest level in 16 years, and the unemployment rate statewide reached 9 percent in October, the highest rate since April 1983, the State Labor Department reported yesterday. Making matters worse, the usual holiday hiring bump doesn't seem to be happening; instead, the retail sector shed 1,100 jobs in October. Leisure and hospitality, which usually picks up toward the end of the year, lost jobs last holiday season and is doing slightly worse so far this year. At this point, we'd ask for a stiff drink, but who's left to pour it? Yet there is a
silver lining empty lining where some copper wire used to be!
"While employers in New York State continued to cut jobs over the past year, they did so at a more modest pace than those in the nation as a whole,” said Peter Neenan, director of the Labor Department’s Division of Research and Statistics. Low-five! And 44,300 people found jobs in educational and health services, though a lot of that has to do with the usual employment increase at private colleges and universities, reflecting the beginning of the academic year.
All the other numbers are pretty depressing—the state lost 12,700 private sector jobs in October; trade, transportation and utilities (-60,500) registered the largest over-the-year drop among declining sectors, as you read this your mother is secretly sifting through dumpsters for recyclable cans. Dry swallow some pills and sift through the charred data here.