So much for that narrative! Counter to the stories upon stories of an economy in freefall, people are still working; at least they are according to October jobs statistics released today by the New York State Department of Labor.
Unemployment actually fell, albeit marginally, in New York State, dropping from 5.6 percent in September to 5.5 percent in October, while it remained unchanged in New York City at 5.7 percent (the national unemployment rate was 6.1 percent). The point is, it’s not climbing, and that seems weird, considering all that’s happened in the past month and a half. read more »