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NY Post: Brooklyn Unemployment Above National Average

unem4.jpgBrooklyn’s unemployment rate is higher than the national average and the future doesn’t look much brighter, according to the state Department of Labor.

According to the DOL’s latest statistics, 11 percent, or about 125,000 Brooklynites, of working age are on the unemployment lines.

Nationally, about 10.2 percent of America’s workers are looking for a job, the highest number in 26 years.

The numbers for Brooklyn could actually be a little worse, according to James Brown, the DOL principal economist in the Division of Research & Statistics, because the state lags several weeks behind national figures meaning the U.S. figures were for October and the state’s latest figures were for September.

“The expectation is over the next few months unemployment will continue to rise, and in any one month, generally unemployment will continue to trend up until after the economy comes up,” said Brown.

Collectively, Brooklynites’ total wages was about $4.462 billion in the first quarter of 2009, which is the latest of these figures from the state DOL.

This total includes $3.968 billion through the private sector and $494 million through government and civil service jobs.

The largest payroll in Brooklyn was the health care and social assistance sector where total wages were about $1.370 billion.

This is followed by the retail sector ($357 million), finance and insurance ($314 million) and construction ($284 million).

Of the borough’s estimated 1.120 million civilian workers 16 years of age and older, about 868,000 earn private wages or are on salary, 188,000 work for the government, 64,000 are self-employed and 1,200 are unpaid family workers.

(Source: NY Post)

2 Responses

  1. Like duh!

    The largest (for profit, as it used to be) industry in the region is/was financial services.

    The largest source of employment is “health care and social assistance”– and the largest employers are the city and state of New York, both of which are broke.

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