State of Working New York Reveals True Unemployment Levels, 4.8 Percent Wage Drop In New York State – 10/13/09
By Doug Cunningham
In a snapshot of how the economic calamity caused by Wall Street and the big banks has devastated working people, New York City’s Fiscal Policy Institute is out with its State of Working New York report. The institute’s Dr. James Parrot says real unemployment in New York is 14.1 percent. For black men there it’s 27 percent. For those still working, wages are down by record amounts in New York – dropping 4.8 percent in 2009. Dr. Parrot says
with joblessness expected to continue to increase for several months it’s critical that the social safety net be maintained.