Unemployment Rate In New York City Holds At 8.9 Precent

The city's unemployment rate has leveled off after improving since the horrendous high of 10.9& last January.

In February, the city's unemployment rate was 8.9 percent, just as it was in January. City Room reports that the rate is "virtually unchanged" since November, meaning that hiring in the city has slowed significantly over the last few months.

That's not as bad as it's been, but New York City's unemployment rate continues to hold steady, as the national unemployment rate continues to dip slightly, now mirroring New York at 8.9. percent.

From City Room:

The city added about 11,000 jobs last month, but that gain was smaller than the average increase in Februaries over the last 10 years, according to James Brown, principal economist for the State Labor Department. In a good sign for the city's tax revenue, though, the strongest sectors were also those that tend to pay the most: financial activities and professional and business services, like accounting and consulting.

The seasonally adjusted number of unemployed people in the city was around 355,000, down 45,000 from February 2010.

New York state's unemployment remained at 8.2 percent, unchanged from January. Statewide, about 787,000 residents were out of work in February. Many had already used the maximum 99 weeks of unemployment insurance payments, and more than a third were no longer collecting benefits.