Workers, hold onto your hats – the stiff breeze of unemployment is beginning to blow.
And the unemployment rate is growing throughout New York City, most severely in Queens.
Queens Sees Jump In Unemployment Rate
The national jobless rate jumped to 5.2 percent in May, up from 4.8 percent in April, as employers shed jobs in many sectors and the economy continues to slump. The national unemployment rate has grown considerably over the last year, standing at 4.3 percent last May.
In Queens, the overall number of unemployed workers grew only slightly over the last year, but saw a sharp 3.7 percent rise between May and April of 2008, the largest such increase in any of the five boroughs.
The unemployment rate in Queens rose in the same period by 0.3 percent, which may seem tiny, but over a year could lead to a significant rise in the number of jobless workers. If this trend continues near the current rate, the county could see more than 3 percent growth in unemployment over the calendar year.