New York City Has Recovered All the Jobs Lost in the Recession

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Photo: John Moore/Getty Images

New numbers from the state Department of Labor show that, while the rest of the country has only recovered 40 percent of the jobs lost since 2008, New York City has gained them all back, having added 79,000 private-sector jobs in May. However, unemployment also rose to 9.7 percent in May (from April's 9.5 percent). The explanation? Increased job growth means increased job seekers, many of whom had previously given up looking for work, back when there were no jobs.