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NYC Unemployment Rate Up to 5.8%
By
Jen Chung
Published Sep 19, 2008
Modified Sep 19, 2008
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By
Jen Chung
Published Sep 19, 2008
Modified Sep 19, 2008
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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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joblessness
ny state
nyc
NYC unemployment
unemployment rate
Jen Chung
Jen Chung is a former WNYC and Gothamist editor.
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Gothamist is funded by sponsors and member donations
Gothamist is funded by sponsors and member donations
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