Streams

Financial 411: Unemployment Rises Slighty in New York

Wednesday, March 09, 2011

White House Supports Funding for NPR

White House secretary Jay Carney said the Obama Administration "does not support calls to eliminate funding" for NPR and for public television. Carney made the comment hours after NPR CEO Vivian Schiller resigned. Her resignation came a day after another NPR executive was shown on video calling Tea Party Republicans xenophobic and racist.

Darrell West, a media and politics analyst at Brookings, said political and financial pressure makes this a delicate time for NPR. "There are conservatives that have called for a complete defunding of federal money for National Public Radio. There are others who, in an era in $1.5 trillion budget deficits, want to cut back the resources just because of all the other pressing priorities."

Those calls increased Wednesday, despite Schiller's resignation. The Obama Administration has budgeted more than $450 million for public broadcasting.

Bloomberg Asks City Agencies For More Cuts

Mayor Michael Bloomberg is asking city agencies to make another round of cuts in case Albany does not come through with $600 million in additional aid so he can balance his budget. He's calling for 4 percent cuts from all agencies, except the education department, and police, firefighters and other uniformed forces.

Markets

U.S. stocks waffled as concerns about Libya and oil production weigh on investors' minds. The Dow dropped one point, closing at 12,213. The S&P 500 edged down two points, to 1,320. The Nasdaq lost 14 points, ending the day at 2,752.

Jobless Rate Rises for City, State

It's happened once again. Even as the local economy created jobs in January, the unemployment rate didn't fall. It rose to 8.3 percent statewide, and 9 percent in the city.

Barbara Byrne Denham, chief economist at the real estate firm Eastern Consolidated, digs into the latest numbers. and talks about what they say about the recovery.

 

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