While the national economic recovery has slowed, New York City’s has nearly come to a halt.
The Big Apple added a paltry 4,500 jobs in August, according to figures from the state Department of Labor. The increase was driven by the leisure and hospitality and financial services sectors. The largest losses occurred in local government and professional technical and scientific services. The figures mirror lackluster national economic progress.
Last month’s numbers were sharply revised from 14,200 job losses to an 18,200 gain, but still reflected a minuscule growth rate of .004% for July. Revised figures also showed a 14,600 decline in private jobs in July. Combined with just
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