The usual preholiday hiring didn’t happen in October as New York City’s unemployment rate held at 10.3 percent, its highest level in 16 years, the NYT reports.
Employers traditionally add to payrolls in the fall, but they have shown a reluctance to hire this year, despite proclamations from some government officials that the recession has ended. Stores, restaurants and hotels usually start taking on workers in September and October and shed them in January and February.
But this year doesn’t give much hope to aspiring fashionistas and cashiers alike. “The number of jobs in the retail trade in the city declined by 1,100 in October,” James Brown, an analyst with the Labor Department, told the NYT.
Looks like this will be a tough winter—and I’m not referring to the long lines at Macy’s.