The city's unemployment rate returned to recession highs, climbing to 10 percent in June from 9.7 percent in May.
The New York Times reports the unemployment rate is back to the highest levels reached during the recession, which the city maintained for a staggering six months from fall 2009 to February 2010.
Thursday's report is especially troubling considering New York City's unemployment rate finally saw a dip from 9.7 percent to 9.5 percent in April.
In March, Mayor Bloomberg praised the city for adding 71,400 jobs in the private sector. "We now know that New York City’s economy has exceeded previous estimates, fared better than the country as a whole, and outperformed other cities," he said, despite rising unemployment rates.
Crains details the ongoing disparity between increased job growth and a simultaneously growing unemployment rate:
The two figures come from different surveys. Job numbers are derived from employer surveys and measure positions in the city regardless of where the workers reside. The unemployment rate comes from a monthly telephone survey of households that counts how many city residents have jobs, regardless of the jobs' locations.
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