**************
Eban Goodstein Department of Economics
518-584-5000 (2739) 811 N. Broadway
fax: 518-584-3023 Saratoga Springs, NY 12866
[EMAIL PROTECTED]
************************
In response to right wing claims about the disastrous state of the
New York economy, I've been doing a little digging and have come up
with the following picture: Over the last four years the state has
risen from fifth to first in the overall unemployment rankings. But
this trend is driven wholly by the grim employment picture in New
York City. Indeed, outside of the five boroughs of New York City,
the unemployment rate in the state is well below the regional
average. Thus, for most of the state, job growth issues are clearly
reflective of regional trends.
Here's the data:
1993 1993 1992 1992 1991 1991 1990 1990
RATE RANK RATE RANK RATE RANK RATE RANK
New York 7.7 1 8.5 2 7.2 3 5.2 5
NYC 10.2 10.8 8.6 6.8
Excluding NYC 5.6 5.9 6.0 3.9
Connecticut 6.2 6 7.5 4 6.7 5 5.1 6
Massachusetts 6.9 4 8.5 2 9.0 1 6.0 2
New Jersey 7.4 2 8.4 3 6.6 6 5.0 7
Ohio 6.5 5 7.2 5 6.4 7 5.7 3
Pennsylvania 7.0 3 7.5 4 6.9 4 5.4 4
Rhode Island 7.7 1 8.9 1 8.5 2 6.7 1
Vermont 5.4 7 6.6 6 6.4 8 5.0 8
Table 1-- State Unemployment Rates, 1990-1993
SOURCE: Employment and Earnings, May Issue (US Dept. of Labor:
Washington, DC)
Does anyone have any ideas of why unemployment is so high in NYC
right now? The other big Northeast cities: Boston, Philly,
Pittsburg, Cleveland, all have unemployment rates at or below their
state average.
Thanks....
Eban
