Is New York City the Next Detroit?
By Daniel Greenfield
July 31, 2013
Shortly, New York may be ruled by a governor who helped cause the financial meltdown, while New York City may have a mayor who was forced to resign from Congress and its comptroller will be a former governor who was forced to resign for transporting a prostitute across state lines. He will be replacing the current comptroller who may go to jail for campaign finance fraud.
All of that sounds like an elaborate setup to a punch line. And it is.
New York State has the 33rd highest unemployment rate in the country. New York City’s unemployment rate is even higher at 8.3%. In June, New York City, with a population of 8 million, added just 3,100 jobs. Most of those jobs were in the city’s tourism trade which bulks up during the summer.