New report from FPI: http://www.fiscalpolicy.org/SOWNYC2009.html.
The institute estimates that unemployment was 5.1 percent on
The overall unemployment rate in
The FPI report is the first to provide relatively current unemployment rates at a neighborhood level for
"Wall Street might be recovering, but the recession rages on in
Parrott also noted that the reported decline in
The FPI report found that the citywide unemployment rate in the third quarter was 15.7 percent for blacks, 11.8 percent for Hispanics, 7.3 percent for white non-Hispanics, and 6.1 percent for the Asian and other category. Unemployment was higher for men (11.0 percent) than for women (9.1 percent).
The highest rates of unemployment were for blacks, particularly black men. In ten of the 24 neighborhoods identified in the report, black non-Hispanic unemployment was over 15 percent - one and a half times greater than the city's overall unemployment rate. For black men, the official city-wide unemployment rate for the third quarter was 19.9 percent.
The report also showed a pronounced inverse relationship between neighborhood income and unemployment. The lowest income neighborhoods - those with median incomes from $20,000 to $30,000 - had the highest average unemployment rate of 15.3 percent. At the other end of the spectrum, the highest income neighborhoods - those with median incomes of $80,000 to $100,000 - had an average unemployment rate of 6.9 percent.
For a more in-depth analysis of the recession in
The Fiscal Policy Institute (www.fiscalpolicy.org) is a nonpartisan research and education organization that focuses on tax, budget, and economic public policy issues that affect the quality of life and the economic well being of
Deputy Director and Chief Economist
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