Expected Returns: New York City Unemployment Rate Reaches 10%

While the unemployment rate in the rest of the nation is rising at a slower pace, the unemployment rate in New York City is exploding. The New York Times reports City Unemployment Rate Hits 10%. Bernanke can talk all he wants about the
Recession '08-'09 is proving to be a white-collar one, at least in major metro areas. For instance, today Patrick McGeehan reports in THE NEW YORK TIMES, "Well-paid professionals like lawyers and architects are joining the rapidly
New York State's seasonally adjusted unemployment rate climbed from 8.6 percent in July to 9.0 percent in August 2009, its highest level since April 1983, the State Labor Department reported today. New York City's rate also increased,