New numbers released by the state paint a rosy picture of our jobs outlook here in the City. According to the state Department of Labor, New York City has recovered all jobs lost in the recession, adding 79,000 private-sector jobs last month. Patrick Muncie, spokesman for the New York City Economic Development Corporation, touted the numbers. “Our job growth in May was 2.4 percent, compared to 1.8 percent at the national level,” he said. “That is significantly more.”
While jobs numbers are significantly up, so is unemployment. Jobless numbers rose from 9.5 percent to 9.7 percent in May, a statistical oddity attributable to the fact that as jobs numbers rose, so did the number of people actively seeking employment. Muncie acknowledged the need for more growth but maintained that the new numbers constituted “yet another positive sign of the continued economic recovery taking place across the five boroughs.”
What do you think? Are you seeing unemployment losing its foothold in your neighborhood?
(Photo: David Shankbone/Flickr)