New York, NY - Unemployment Rate at 5 Year Low

New York, NY - The city's unemployment rate has hit a five-year low, 5.3 percent, according to data from the State Repartment of Labor.

The February 2006 unemployment rate is down from 5.5 percent the previous month, 5.9 percent a year ago and 7.8 percent two years ago. It's the lowest since March 2001, when it also stood at 5.3 percent.
The number of employed New Yorkers in February surpassed the record set the month before, up 20,600 to 3.6 million.

Mayor Michael Bloomberg said the city is "making great strides in creating jobs for all New Yorkers. In the past year alone, the number of New Yorkers with jobs increased by more than 106,000, and prior to 2001 the last time the unemployment rate was as low as 5.3 percent was 1988,'' Bloomberg said in a statement.