Deep Dive: New York City unemployment is at 10.2%, almost twice the national average
Unemployment numbers have a big impact on our entire economy.
In this week's Deep Dive, News 12's Kristie Reeter takes a look at the trends in New York, and how that could impact you.
Cale Silver, with Investopedia, says New York is the hardest hit state in the tri-state area.
"When you think about all those leisure and hospitality jobs, that is where we are feeling it most," says Silver.
When we look county to county, we are seeing high unemployment in New York City, at 10.2% - that is almost twice the national average of 5.2%.
Kings County, Brooklyn, is down 10.5%, and the Bronx is down 13.9%.
In Westchester, it's much better at 5.4% unemployment rate.
As of July, Suffolk County was at 5.3% and Nassau County was at 5.2%.
"The issue with high unemployment is it effects consumer spending, it affects what households are able to do in terms of saving and investing and their budgets, so it is a big deal and something we are keeping a close eye on," says Silver.
Silver says the leisure and hospitality sector has been hit the hardest, but there are steady job gains.