NYT Reports: the latest report on jobs and unemployment in New York, released on Thursday, tells a different story. According to the State Labor Department, New York City’s unemployment rate edged up to 9 percent in December, from 8.9 percent in November, compared to a national rate that dropped to 8.5 percent from 8.7 percent.
In 2011, the private sector in the city added just 38,900 jobs, a growth rate of only 1.2 percent. (Making matters worse, the number of government jobs shrank by about 2,300 during the year.) By contrast, the number of private-sector jobs in the country as a whole rose at a rate of 1.8 percent, or one and a half times the pace of the city’s growth.