Asian Journal- The Filipino-American Community Newspaper

The state’s unemployment rate jumped to 7.0 percent in December, the highest figure recorded in New York since 1994. Over 671,000 New Yorkers were unemployed in December, an increase of 229,000 (52 percent) from December of 2007.

The national recession began in December 2007 and since then New York State has lost 120,600 private sector jobs.

Among those who joined the ranks of unemployed last year was Michael Palermo, originally from the Philippines who was here in the US on an H1-B visa. He was laid off from his work around the second week of December.

"I have been exploring since last month, looking for jobs that fit me. Unfortunately, it’s really hard to find one these days. I’ll give myself a couple more months and if nothing else happens, I might have to go back to Manila," he shared.

Palermo belongs to a growing list of New York residents who have been out of a job since last year.

"The severity of the current recession in New York State is underscored by the labor market statistics released today. In just the last three months, the state has lost more than 100,000 private sector jobs, including 49,300 in December 2008. This is the steepest one-month drop since October 2001 in the aftermath of the World Trade Center attacks," said Peter A. Neenan, Ph.D., director of the Division of Research and Statistics.

New York’s 7.0 percent unemployment rate last month was up from November’s revised level of 6.0 percent. The U.S. unemployment rate was 7.2 percent in December and 6.8 percent in November 2008.

Both the one-month unemployment increase of 1.0 percent and the 229,000 12-month increase in the unemployed count are all-time highs in the 32-year official Labor Department series.

"While New York State lagged the nation in entering the recession, we are catching up with a vengeance," said James Parrott, Deputy Director and Chief Economist of the Fiscal Policy Institute in a statement. "New York City’s unemployment rate also surged in December to 7.4 percent from 6.3 percent in November, putting the city’s rate higher than the national unemployment rate."

"The number of unemployed in the state is at its highest level since October 1993; while New York State reached its highest unemployment rate since June 1994. Since the beginning of the national recession in December 2007, the number of unemployed New Yorkers has increased by more than 50 percent," Neenan added.

In New Jersey, state officials said last week that unemployment is at 7.1%, the same with Connecticut.

The New York figures followed the US Labor Department report, which said that new unemployment claims jumped more than expected earlier this month, as employers continue to cut jobs.

 Jobless benefit claims rose to 589,000 in the week ending Jan. 17. Analysts from the Fiscal Policy Institute, a New York-based nonpartisan research and education organization, said that there is need for immediate improvements to New York’s jobless safety net in light of these staggering figures.

"The maximum weekly unemployment benefit is just $405 per week, and has been frozen at that level since 2000. Meanwhile, the average weekly wage has risen over 42 percent since 1999, when the maximum unemployment benefit was set at one half of the average weekly wage. If the maximum benefit level had been adjusted annually to keep pace with changes in the average weekly wage as is done in 32 other states, it would now be $577," the institute said in a statement.

Jobless workers laid off in New Jersey can qualify for $560 per week, and in Connecticut, $519 per week. Other neighboring states like Pennsylvania ($560 per week) and Massachusetts ($628 per week) pay even more.

( www.asianjournal.com )

( Published on January 30, 2009 in Asian Journal New York p. A1 )