From the NY Times:Continuing layoffs on Wall Street drove New York City’s unemployment rate to 10.3 percent in August, a 16-year high that underscores the need to retrain former financial services workers for other jobs, state officials said Thursday.
In the year since the Lehman Brothers investment bank collapsed and others had to be rescued from failing, the number of unemployed city residents has risen to more than 415,000, the highest total on record. The still-shrinking financial sector, which had been the main engine of employment growth in the city before the downturn, has essentially been declared to be in a state of emergency.
2 comments:
I have my own reasons for wanting Bloomberg gone having to do with nearly being killed while DOB and HPD proved totally impotent and/or corrupt.
However, the collapse of Wall Street has nothing to do with Bloomberg. It is a bubble-driven economy as it has been since its inception.
For an excellent look at what really happened and who to blame read the excellent new book, "And then the Roof Caved in, by CNN's David Faber. Simple and to the point.
And what has our famed Titan of Commerce, Commissar Death and Taxes done to improve the situation?
Nothing?
Made it worse by added taxes and fees and fines?
Threatened small business?
Continues the destruction of education of youngsters in the city?
Some of the above?
All of the above?
More than all of the above?
Dump this albatross!
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