NY Lost 22,000 Jobs in December

bullish?

most def!

where were thos lost jobs?? Buffalo, Syracuse or all those upstate rural areas put together? b/c in Manhattan jobs are increasing and the unemployment rate is improving.

Fact check time! NYC lost 3,600 jobs in December. (FWIW, the unemployment rate dropped in NYS as well. Someone would have to dig into the numbers to find out why--presumably people giving up looking for jobs).

From http://www.bloomberg.com/news/2011-01-20/new-york-city-s-jobless-rate-fell-to-8-9-in-december-lowest-since-2009.html :

“We have a weak number, with many of the industries that showed hiring gains in previous months, such as financial activities, professional and business services, and leisure and hospitality all flat or down,” Brown said in an interview.

NY lost 22,000 Jobas in December and is about to lose 15,000 more...

http://www.cnbc.com/id/41176377

New York state may lay off 15,000 workers to help close next year's deficit of at least $9 billion, The New York Times reported on Thursday.

Governor Andrew Cuomo has about 132,000 workers under his control; tens of thousands of other workers at independent public authorities likely would not be affected.

The New York Times said it was not known if attrition or early retirement incentives would also be used to trim the workforce.

A spokesman for Cuomo said "any speculation was premature" until the governor finalizes the budget for the next fiscal year; it is due by about Feb. 1.

"Unfortunately, as the governor has said, given that the state is going through its worst fiscal crisis since the 1970's, large cuts and shared sacrificed will be required in order to close the $10 billion budget gap," Josh Vlasto, the Cuomo spokesman said by email.

New York also faces around a $1 billion deficit in the current budget, which ends on March 31, and Cuomo already has called for freezing wages for one year.

I'm sure everyone here is pleased, right? That's 15,000 fewer govt. unionized workers. Those evil unions!

I would not be surpirsed if we have near 10% unemployment for the next 20 or 30 years.

of course, the same people who support small govt. will start whining when their services get cut. People were HORRIFIED to find out that, after laying signal maintainers off, the MTA was faking signal inspections for (get this) a lack of staff! I know, who could have seen that one coming?

"where were thos lost jobs?? Buffalo, Syracuse or all those upstate rural areas put together? b/c in Manhattan jobs are increasing and the unemployment rate is improving."

Survey says... WRONG.

In terms of the unemployment rate change.... "Economists attributed the [nyc employment rate] falloff largely to the shrinking workforce in the city, which contracted by 1%, or about 38,000 people, in the last six months of the year, according to the state Department of Labor" (Crains).

The rate is going down because people are leaving the city and/or the workforce. Sorry, tooks, that isn't a good sign.

"The city lost 16,600 private-sector jobs last month" (crains)

But I thought that extending the Bush tax cuts were supposed to creatr a gazillion jobs. If the jobs are not coming, then they should be repealed immediately.

I love the backward logic language that has been created... you repeal taxes, not tax cuts. Repealing tax cuts is a bit of an oxymoron.

That being said, did you really think it would take 8 minutes for the effect to happen?

Government intrusion continues to kill NY's upstate economy, and socialist blames capitalism. Hilarious.

How did government intrusion kill upstate's economy? Please be specific. No talking points.

LICcomm is right: Pataki intruded on the upstate economy by doing absolutely nothing to develop its economy during the -- what, 25 years he enjoyed his grandstanding and ineptitude.

GOP government killed upstate's economy -- even LICcomm is minimally smart enough to know that.

of course I will never get an answer because Republicans only know how to talk using bumper sticker slogans. They can never write more than 3 sentences on an issue.

"Pataki intruded on the upstate economy by doing absolutely nothing to develop its economy during the"

Alan, are you really claiming that government intrusion is what was needed to create private sector jobs up there?

In Chief Executive’s annual survey of best and worst states for business, conducted in late January of this year, 651 CEOs across the U.S. again gave Texas top honors, closely followed by North Carolina, Tennessee and Virginia. They gave the booby prize for worst state to California, with New York, Michigan, New Jersey and Massachusetts filling out the bottom five-a line-up virtually unchanged from last year. Florida and Georgia each dropped three places in the ranking, but remain in the top 10. Utah jumped six positions this year to sneak into the top 10 at No. 9.

The business leaders were asked to draw upon their direct experience to rate each state in three general categories: taxation and regulation, quality of workforce and living environment. Within each category respondents graded states in five subcategories, as well as ranking each in terms of its importance to the respondent and how individual states measure up . . .

“The leadership of California has done everything in its power to kill manufacturing jobs in this state,” observed another CEO. “As I stated at our annual meeting, if we could grow our crops in Reno, we’d move our plants tomorrow.”

How is it that the nation’s most populous state at 37 million, one that is the world’s eighth-largest economy and the country’s richest and most diverse agricultural producer, a state that had the fastest growth rate in the 1950s and 1960s during the tenures of Democratic Governor Pat Brown and Republican Governors Earl Warren and Ronald Reagan, should become the Venezuela of North America?

Californians pay among the highest income and sales taxes in the nation, the former exceeding 10 percent in the top brackets. Unemployment statewide is over 12.2 percent, higher than the national average. State politics seems consumed with how to divide a shrinking pie rather than how to expand it. Against national trend, union density is climbing from 16.1 percent of workers in 1998 to 17.8 percent in 2002. Organized labor has more political influence in California than in most other states. In addition, unfunded pension and health care liabilities for state workers top $500 billion and the annual pension contribution has climbed from $320 million to $7.3 billion in less than a decade. When state employees reach critical mass, they tend to become a permanent lobby for continual growth in government.

Bill Dormandy, CEO of San Francisco medical device maker ITC, summed it up: “California has a good living environment but is unfavorable to business and the state taxes are not survivable. Nevada and Virginia are encouraging business to move to their states with lower tax rates and less regulatory demands.” . . .

Little wonder then that while Texas gained over 848,000 net new residents in the last 10 years, according to the Census Bureau, California lost 1.5 million. New York State’s net loss exceeded 1.6 million - the highest of any state. High-tax, big- government New Jersey ranked fourth, with a net loss of almost 460,000, enough to drop it from 10th to 11th place in population.

“The New York state legislature is the most dysfunctional in the land and one of the reasons why New York is the worst,” one exasperated New York City business leader volunteered. The political elites in the states that dismiss out-migration trends overlook the radical demographic adjustment underway. As higher-income earners leave, they are more often replaced by those with lower incomes and lower skills, many needing public assistance. Gone too are the entrepreneurs and risk-takers, off seeking regions where their job creating abilities are rewarded.

-chiefexecutive.net

ok, LICC, I am going to tear apart your corporate propaganda piece.

"Nevada and Virginia are encouraging business to move to their states with lower tax rates and less regulatory demands.”

Nevada has the HIGHEST unemployment rate in the country. Once again, pro-business policies have been a complete failure in creating jobs. Low tax Nevada has HIGHER unemployment than high tax NY, NJ, and CA.

"651 CEOs across the U.S. again gave Texas top honors,"

Texas is also tops for budget deficits, uninsured patients, and high school dropouts.

Private sector jobs are NEVER going to be created upstate. The jobs all left the country and are never coming back. Same is trye for most of the rust belt. You might as well as demolish everything and turn it into a national park.

The funny part is that Socialist doesn't get that this isn't all bad. Trying to force it would be.

We right now have enough room in the country, we don't have to densely populate everywhere, and we can densely populate in places that makes sense, where people and businesses can thrive.

NOT trying to push people to densely populate in areas they don't want to live in - where it is, for instance, fing cold and snowy - and where natural resources or locations don't help commerce - the days of the erie canal supporting a dense WNY are long gone - then perhaps the government should NOT be trying to force this sort of activity there.

This is an excellent example of one of the problems with socialism... that some idiot will try to demand that X companies and Y industries and Z people need to be in certainly places... when its actually a stupid place to do it.

socialist can't understand that growing jobs along with growing population will skew unemployment rates.