Unemployment Rate In New York City Dips Further
March 29th, 2010 - 7:42 pm ICT by GDBy Madhuri Dey
New York City, Mar 29, (THAINDIAN NEWS) The United States finally seems to be getting a bit closer to beating the recession blues, and getting back on its feet bit by bit. Complete recovery is still a long way, but it seems that the country is taking small steps towards progress. Unemployment is still rampant, but there is reason to keep one’s fingers crossed. The unemployment rates in the city of New York, which have been holding steady for some months now, have finally recorded a dip, marginally, but significant if one looks at it from the broader perspective, for, in times such as this, even a little fall in the rate of unemployment is reason enough to cheer.
In February, the unemployment rate in New York City dipped to 10.2%, falling 0.2% below the mark in January. It sure is great news, considering that this means that the pace of hiring is gradually picking up in the city. In fact, according to the State Department of Labor, their analysts have founds that there has been a significant increase in the number of available jobs in the city, particularly in the private sectors, which recorded a rise in the number of jobs by a whopping 8,100.
However, the rate of unemployment in the city still remains significantly higher than that of the state. New York at present records a jobless rate of 9.7%. Some sectors, like finance and construction, are still under losses, but the downturn is being balanced by the legal, hospitality, accounting and leisure sectors. All in all, there is no denying that the city has indeed come a long way from the loss of 1,675,000 jobs in the early bouts of the recession.
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