NYC Unemployment jumps to 8.1% - Highest since Oct 2003

"Unemployment Rates* (seasonally adjusted)
February 2009 January 2009 February 2008
New York State 7.8 7.0 4.6
United States 8.1 7.6 4.8
New York City 8.1 6.9 4.4
NYS, excluding NYC 7.6 7.0 4.8

*Data are preliminary and subject to change."

http://www.labor.state.ny.us/pressreleases/2009/March26_2009.htm

I am waiting for a cheerleader to tell us how great this is for the real estate market.

I find it shocking that NY ex-NYC has lower unemployment than the US average.

Because they don't count folks out of a job more than a year.....

Folks just stopped trying upstate. That 'economy" has been dead for some time.

It's Patakistan.