Unemployment Rises as City’s Recovery Stalls

September 16, 2011  |  

(Crain’s) — The city’s unemployment rate in August ticked up to 8.7% from July’s 8.6% as the local recovery continued to lose steam, the state Department of Labor reported Thursday. The one-month rise itself was not a significant increase, but after the city’s jobless rate fell every month for nearly a year starting in spring 2010, there have now been six consecutive months without a noticeable decline. Most of the drop in the rate from its 10% peak has come not from job gains but from discouraged job seekers leaving the workforce.  “The month-to-month uptick isn’t huge, but the unemployment rate has been treading water for six months now,” said James Brown, principal economist at the Department of Labor. “That’s not what you want to see. In a recovery, you’d expect it to trend downward.”

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