Trump SoHo to Thank for Turnaround in NYC Job Market?

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Photo: Mike Coppola/Getty Images

The latest New York City hiring numbers indicate that there may be a turnaround in the city’s job market. The city's unemployment rate dipped to 9.6 percent last month, compared to 9.8 percent in April (and last year’s high of 10.5 percent), according to the state Labor Department. The overall state unemployment rate declined slightly as well, from 8.4 percent in April to 8.3 percent last month, the state’s lowest rate since April of 2009. The Journal credits the new Trump SoHo as a possible source of growth, noting that it has added workers in all areas since its April opening. Despite a shaky start, sales have reportedly exceeded expectations by 30 percent, and the building plans to employ 425 people by the end of July. Oh, where would we be without Donald?! (Unemployed and living on the streets, apparently.)

Jobs Numbers Show Strength [WSJ]