As of AUGUST 2013, the State Labor Department reports unemployment in New York City stood at 8.7%, down from 9.4% the same month last year. However, we last posted April’s unemployment rate which was 7.7%, so what is the trend?
As the historical chart indicates (January 2008 to August 2013), April’s data point represented a recent nominal low in NYC unemployment. The August number is more or less consistent with a gradual decline in unemployment over the last few years. In the short run, perhaps nothing to be overly concerned or excited about.