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Job Growth In New York City Is Blowing Everyone's Mind
TBI ^ | 3-9-2012 | Joe Weisenthal

Posted on 03/09/2012 4:30:00 AM PST by blam

Job Growth In New York City Is Blowing Everyone's Mind

Joe Weisenthal
March 9, 2012

According to WSJ, the NYC economy added more jobs in January than in any month in 23 years.

Some 31,200 jobs were added in the month, according to a seasonally adjusted analysis of new state Labor Department figures.

"It is an understatement to say that these gains exceeded all expectations," said Barbara Byrne Denham, chief economist with the real-estate services firm Eastern Consolidated, who conducted the analysis.

Here's the press release from the Department of Labor.

---------

In January 2012, New York State's private sector job count increased by 45,500, or 0.2%. From the beginning of the state's economic recovery in November 2009 through January 2012, New York has recouped 90%, or 290,800, of the private sector jobs lost during the state's recession in 2008-09.

Note: When comparing different months, seasonally adjusted data provide the most valid comparison; for example, December 2011 versus January 2012. Non-seasonally adjusted data are valuable in year-to-year comparisons of the same month; for example, January 2011 versus January 2012.

1) Unemployment rates (seasonally adjusted):

New York State's unemployment rate increased from 8.2% in December 2011 to 8.3% in January 2012. Over the same time period, the U.S. unemployment rate dropped from 8.5% in December 2011 to 8.3% in January 2012.


(Excerpt) Read more at businessinsider.com ...


TOPICS: News/Current Events
KEYWORDS: economy; employment; jobs; ny
We're back!!

Get them credit cards out, happy days are here.

Oh Yeah...

Vote for Obama.

1 posted on 03/09/2012 4:30:01 AM PST by blam
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To: blam

What kind of jobs are these?


2 posted on 03/09/2012 4:31:49 AM PST by SatinDoll (No Foreign Nationals as our President!)
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To: SatinDoll

The tourism here is mind blowing. I am in NYC and we are flooded w tourists, which is a good thing.


3 posted on 03/09/2012 4:33:09 AM PST by GlockThe Vote (The Obama Adminstration: 2nd wave of attacks on America after 9/11)
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To: GlockThe Vote

Illegal aliens are not tourists. :)


4 posted on 03/09/2012 4:40:30 AM PST by Jonty30 (What Islam and secularism have in common is that they are both death cults.)
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To: blam

I’m seriously confused. The article says jobs are back, but the YOY unemployment in the supplied chart shows a HIGHER unemployment rate.

The article and the chart completely contradict each other. What gives?


5 posted on 03/09/2012 4:42:24 AM PST by cuban leaf (Were doomed! Details at eleven.)
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To: GlockThe Vote

“The tourism here is mind blowing. I am in NYC and we are flooded w tourists, which is a good thing.”

The only way you can make it in NYC in the tourism industry is to also collect unemployment or other benefits.

I suspect that the number of statistically unemployed that are working under the table is significant.


6 posted on 03/09/2012 4:44:28 AM PST by RFEngineer
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To: GlockThe Vote

I have been all over the united states and have seen a lot of places worth visiting, but I would not list new york city in the top 10,000.


7 posted on 03/09/2012 4:48:04 AM PST by org.whodat
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To: RFEngineer

The weak dollar? Is it foreign tourism? I’d bet.


8 posted on 03/09/2012 4:48:39 AM PST by riri (Plannedopolis-look it up. It's how the elites plan for US to live.)
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To: riri

Most likely the weak dollar. I’ve been following the Australian dollar and it’s currently worth $1.05 US. When I was there it was $1US was worth $2 Aus dollar. No one was coming to the US because it cost them double. Now the opposite is true.


9 posted on 03/09/2012 4:54:21 AM PST by USAF80
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To: cuban leaf
What gives?

More people actively looking for work I'd guess.

10 posted on 03/09/2012 4:56:48 AM PST by BfloGuy (The final outcome of the credit expansion is general impoverishment.)
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To: blam
This is more liberal media lies.Seasonably adjusted are not real jobs.That's a government trick.

There are no good jobs. Real unemployment is over 20%.All governments are collapsing under massive debt. Almost 50% of Americans on foodstamps or other government assistance and still no good jobs with all this borrowing of money pumped into the economy.

Obama added 5 trillion more in debt, state and local governments also trillions more in debt, U.S. 17 trillion debt, 125 trillion in unfunded liabilities, massive consumer debt. Any of these liberal media reporters think this won't lead to collapse?

11 posted on 03/09/2012 4:57:30 AM PST by rurgan (Make all laws have an expiration date of 3 years. too many laws is the problem)
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To: SatinDoll

There’s always good paying jobs in NYC for whores, pimps, drug pushers, gang bangers, crooked cops, on-the-take city inspectors, union leaders and city council members. You can easily knock down a minimum of $300,000 per year. If they don’t pay enough, and you want REAL money, just start telling people that you’re a ‘certified’ preacher and get a gig like Rev. Al.


12 posted on 03/09/2012 4:58:29 AM PST by jmax (SLUTS SUCK WHILE MAKING IT ON SLEEP NUMBER BEDS)
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To: cuban leaf
"The article and the chart completely contradict each other. What gives? "

Facts?

Damn, you must be a Conservative.

This is a political ad and is only about 'feelings', not truth.

Quit being a party pooper.

13 posted on 03/09/2012 4:59:06 AM PST by blam
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To: BfloGuy

So, it’s like the number of jobs created increased, but the number of people looking increased even more?


14 posted on 03/09/2012 5:00:18 AM PST by cuban leaf (Were doomed! Details at eleven.)
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To: blam
Not So Fast On That Whole Economic Recovery Thing
15 posted on 03/09/2012 5:05:31 AM PST by blam
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To: SatinDoll

accountants and lawyers trying to figure out Frank-Dodd


16 posted on 03/09/2012 5:07:47 AM PST by silverleaf (Funny how all the people who are for abortion are already born)
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To: jmax

“There’s always good paying jobs in NYC for whores, pimps, drug pushers, gang bangers, crooked cops, on-the-take city inspectors, union leaders and city council members”

But first, you have to get elected.


17 posted on 03/09/2012 5:09:20 AM PST by silverleaf (Funny how all the people who are for abortion are already born)
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To: rurgan
Employment Data May Be Too Good To Be True
18 posted on 03/09/2012 5:11:52 AM PST by blam
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To: blam

Joe Weisenthal

19 posted on 03/09/2012 5:17:38 AM PST by kcvl
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To: riri

“The weak dollar? Is it foreign tourism? I’d bet.”

NYC still has it’s mystique to foreign tourists.

That mystique usually dissipates somewhat after they are relieved of a couple thousand dollars and they only have a T-shirt to show for it.

It generates cash for some business, but those on the front-lines of the tourist industry don’t make nearly enough to live in NYC without some other source of income.


20 posted on 03/09/2012 5:20:53 AM PST by RFEngineer
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To: blam

I guess I should not FReep without my coffee yet.

That chart seems to say the opposite.

No?


21 posted on 03/09/2012 5:24:24 AM PST by Cringing Negativism Network ("The door is open" PALIN 2012)
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To: RFEngineer
That mystique usually dissipates somewhat after they are relieved of a couple thousand dollars and they only have a T-shirt to show for it.

True but for many places in the world, NYC is still bargain prices for them. Especially if their "dollar" has a little more purchasing power. My husband's co-workers come in from Sweden with empty suitcases and load up on brand name duds because they can get them for half the cost of basic clothes in Scandinavia. They go crazy for all those big name jeans that sell for $200 a pair because they are used to $150 for a basic pair of Levis.

22 posted on 03/09/2012 5:28:00 AM PST by riri (Plannedopolis-look it up. It's how the elites plan for US to live.)
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To: blam

I’m being real careful with credit card debt. I can’t afford too much, gotta help pay for everyone’s Prius and Volt purchases.


23 posted on 03/09/2012 5:33:30 AM PST by Mrs. P (Figures can lie, and liars can figure.)
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To: blam

I guess a few savvy farmers leased out their land for fracking on the Marcellus shale......snicker.


24 posted on 03/09/2012 5:37:46 AM PST by spokeshave (Dole/McCain/Romney losers all....NEWT is da Man)
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To: blam

Corrections & Amplifications:

New York’s private-sector employers added 139,400 in 2011. An earlier version of this article incorrectly said the state gained 245,000 jobs in the year.

http://blogs.wsj.com/metropolis/2012/03/08/new-york-job-growth-exceeds-expectations/


25 posted on 03/09/2012 5:38:04 AM PST by kcvl
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To: riri

My daughter who goes to college in NYC works part time as a greeter ($30.00/hour, it’s sort of a modeling/living mannequin type gig) at the Fifth Avenue Flagship Hollister store in Manhattan says the clientele with money to spend are largely the foreign tourists - often Asians. She is grateful she has the job as she is (mostly) paying her own way through college and works hard so she is thankful for these tourists. The store would be struggling without them.

Let’s hope the Occupiers don’t come back this summer and kill all tourism. Even for those who don’t have much use for NYC - it would be a sad day if it turned into a Detroit or other failed city because it does have a lot to offer.


26 posted on 03/09/2012 5:45:37 AM PST by stonehouse01 (Equal rights for unborn women)
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To: SatinDoll
A lot of companies have been downsizing and re-centralizing - cutting, say, 2,000 white collar jobs around the country but moving another 1,000 back to their headquarters in New York and the surrounding areas. It's not surprising New York would actually be getting economically stronger, in spite of the city and state governments' best efforts.

New York will hang on longer than most other cities when the real crisis comes.

27 posted on 03/09/2012 5:57:03 AM PST by Mr. Jeeves (CTRL-GALT-DELETE)
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To: stonehouse01

God Bless your daughter. It is clear that you did a wonderful job raising her.


28 posted on 03/09/2012 6:06:18 AM PST by napscoordinator (A moral principled Christian with character is the frontrunner! Congrats Santorum!)
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To: napscoordinator

Thank you naps! She turns 20 next month (born on tax day) and I am very proud of her.

NYC has so much to offer - we live upstate in the Hudson River Valley - I wish NY and NYC weren’t so liberal!! I am very nervous about the return of the Occupiers. One of my 2L (2L = second year law student) other daughter’s boyfriend who is also a 2L - they will be 3L’s by that time, landed a summer associate position at a firm on Pine (near Wall Street) in lower Manhattan. He is just the opposite of the occupiers; hardworking, goal oriented, a true southern gentleman - I will be so angry if they cause disruptions!!

Back to topic - Sorry if I was off topic- I think this is tangential to the topic at hand - many jobs in NYC are tourist generated. The numbers in the article seem exaggerated to me, but I certainly have no facts to back that up.


29 posted on 03/09/2012 6:29:02 AM PST by stonehouse01 (Equal rights for unborn women)
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To: Mr. Jeeves

You are kidding right? When the real crisis comes New York will be ‘Zombie Central’.


30 posted on 03/09/2012 6:35:32 AM PST by Kartographer ("We mutually pledge to each other our lives, our fortunes and our sacred honor.")
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To: cuban leaf

Does anyone really believe anything the Federal Government tells the public? I do not.


31 posted on 03/09/2012 6:41:09 AM PST by Texas Songwriter (Ia)
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To: stonehouse01

You are right about NYC being liberal but being such a great place. I love the place and I like the state too. I was born in upstate. Those occupiers are such a pain. I am in Annapolis and they just got rid of them finally. They just trash up the place literally and figuratively. I am just so glad to see your daughters and boyfriend are becoming lawyers. We need good moral lawyers to fight for what is right. I sometimes wonder what FREEPERS are thinking when they bash the profession of law because we don’t need to discourage good conservatives from going into the profession because that might be what is wrong with America right now. Too many liberals becoming lawyers instead of good Americans.


32 posted on 03/09/2012 6:56:07 AM PST by napscoordinator (A moral principled Christian with character is the frontrunner! Congrats Santorum!)
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To: blam

janitorial jobs, cleaning up after the Occupados?


33 posted on 03/09/2012 6:56:18 AM PST by Buckeye McFrog
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To: Kartographer
When the real crisis comes New York will be ‘Zombie Central’.

The Big Money controls the Big Guns. NYC will probably be the safest place in America.

34 posted on 03/09/2012 8:58:21 AM PST by Mr. Jeeves (CTRL-GALT-DELETE)
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To: Mr. Jeeves

The big money will be long gone they are already buying themselves safe havens elsewhere. If the trucks stopped running how long before the shelves would be empty?


35 posted on 03/09/2012 9:24:23 AM PST by Kartographer ("We mutually pledge to each other our lives, our fortunes and our sacred honor.")
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To: cuban leaf
So, it’s like the number of jobs created increased, but the number of people looking increased even more?

That's my guess. The same happened today with the monthly job numbers. 273,000 people found work, but the employment rate went up a notch because others have started looking again.

36 posted on 03/09/2012 2:00:47 PM PST by BfloGuy (The final outcome of the credit expansion is general impoverishment.)
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To: blam

I’d like to see a chart of the NYC unemployment rate versus the value of the dollar. I’ll bet they track together.


37 posted on 03/09/2012 2:05:32 PM PST by Yardstick
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