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News
City’s Unemployment Rate Decreases
by Cindy Rodriguez
NEW YORK, NY February 27, 2007 —The city's job market is strong and unemployment rates are down for several groups, but young people are still having trouble finding work. That's according to a report by the non-profit Community Service Society. WNYC's Cindy Rodriguez reports.
The report finds that in 2006 about a 3rd of 16 to 24 year olds were working - that's nearly a 10% drop from 6 years ago before the last recession. In contrast, the report finds older people are thriving in the work force. About 7% more 55 to 64 year olds were working in 2006 compared to 2000.
Mark Levitan helped author the report and says that's likely because fewer are choosing to retire. The number of black men in the workforce also increased by about 10% over the last 3 years, though that still doesn't put them on par with pre-recession numbers. Levitan says many are employed by the government and that's not a job sector that's growing.
For WNYC, I'm Cindy Rodriguez.