Unemployment Falls in New York City for Third Straight Month
• New York City’s unemployment rate fell to 10.0% in March
from 10.2% in February.
• This was the third consecutive month the city’s
unemployment rate declined and its lowest level since July
of 2009.
• The U.S. rate was 9.7% in March, unchanged from the
prior two months.
City Job Losses Slow
• New York City lost 53,000 jobs for the period from March
2009 to March 2010.
• The biggest declines continued to be in fnancial activities,
which shed just over 19,000 jobs in the past year.
• Education and health services continued to add workers,
as their employment was 16,500 higher than during March
2009.
• The leisure and hospitality sector also showed signs of
strength, adding 7,300 jobs over the past year.
Conventional Mortgage Rates Fall
• The average 30-year conventional mortgage rate fell to
5.07% for the week ending April 15th, down from 5.21%
the week before.
• This rate had risen in each of the prior four weeks.
• One year ago, conforming rates averaged 4.82%.
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