The city’s unemployment rate continued its ascent in July, topping the national unemployment rate for the first time since November 2007.
The citywide seasonally adjusted unemployment rate hit 9.6% last month, according to the state Department of Labor, up from an adjusted rate of 9.4% in June and 5.4% in July 2008. That compares with a national unemployment rate of 9.4% in July, which fell from 9.5% in June.
“Although the national economy is showing signs of bottoming out, the outlook for the city’s economy remains weak into 2010,” said James Brown, principal economist with the state Department of Labor, in a statement.
There was some silver lining for the city’s job market last month, according to an analysis by real estate services firm Eastern Consolidated. Employers added 39,200 jobs to the city in July, including 25,000 in local government, 5,500 in private education, 3,100 in health services, and 4,000 in the film industry.
Why are we putting more people on the city's payroll? Unless these are cops, teachers or firefighters, this is just plain stupid.
FOUR MORE YEARS!!!!