Government report shows spike in unemployment

The national unemployment rate increased from 6.1 to 6.5 percent since September with 250,000 people losing jobs, according to the report released Friday by the Department of Labor. While unemployment

News 12 Staff

Nov 8, 2008, 4:02 AM

Updated 5,676 days ago

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Government report shows spike in unemployment
The national unemployment rate increased from 6.1 to 6.5 percent since September with 250,000 people losing jobs, according to the report released Friday by the Department of Labor.
While unemployment numbers in Westchester County are slightly lower than the national average, the recent collapse of the stock market has cost thousands of financial workers who live in the area their jobs.
John Nelson, with Workforce New York, says he noticed that in the fourth quarter of 2007, employment numbers started to soften. Now, he says more and more previously high-paid financial workers are seeking his help in finding employment.
According to Caryn McBride at the Westchester Business Journal, things will not get any easier in the near future as automakers like General Motors make tough decisions to deal with enormous losses.
The number of Welfare recipients is expected to reach 500,000 by April, costing New York $850,000.


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