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The number of unemployed city residents dropped to 262,800 in October, the lowest since November 2008. The drop in unemployment is thanks largely to the strength of the private sector, which added 87,200 jobs and has grown 2.5% in the 12 months ended in October. The city's private-sector growth outpaced New York state's (1.5%) and the nation's as a whole (2.3%).
Once you are finished with that orgasm the headline produced, suggest you read the entire article further.
New York City's drop in unemployment came in large part due to hiring in the service sector (health, educational, leisure and hospitality. Fair enough one supposes as a job is a job. However those sectors are notorious for not paying very well. When you consider the high COL including NYS and NYC taxes anything paying <70k or worse, <60k means a persons still will have difficulty living here financially. That is for singles, it becomes worse if one is trying to support a family.
Nice attempt though, and we thank you for playing.
Once you are finished with that orgasm the headline produced, suggest you read the entire article further.
New York City's drop in unemployment came in large part due to hiring in the service sector (health, educational, leisure and hospitality. Fair enough one supposes as a job is a job. However those sectors are notorious for not paying very well. When you consider the high COL including NYS and NYC taxes anything paying <70k or worse, <60k means a persons still will have difficulty living here financially. That is for singles, it becomes worse if one is trying to support a family.
Nice attempt though, and we thank you for playing.
A bit slow, aren't you? The headline perfectly described the topic at hand which was unemployment drop and private sector jobs. Statistics are statistics, and unemployment levels saw the biggest drop in 38 years and that's that.
And hate to break it to you sweetheart, but most Americans/New Yorkers aren't surgeons or top lawyers and shouldn't be making $100k or $500k. $60-70k is higher than what most American wage earners make and that salary perfectly reflects their skill level, New York address or not.
But you're free to go back to wallowing in your misery and discussing welfare and Al Sharpton's taxes if that's your calling.
Last edited by London Lawyer; 11-21-2014 at 08:50 PM..
A bit slow, aren't you? The headline perfectly described the topic at hand which was unemployment drop and private sector jobs. Statistics are statistics, and unemployment levels saw the biggest drop in 38 years and that's that.
And hate to break it to you sweetheart, but most Americans/New Yorkers aren't surgeons or top lawyers and shouldn't be making $100k or $500k. $60-70k is higher than what most American wage earners make and that salary perfectly reflects their skill level, New York address or not.
But you're free to go back to wallowing in your misery and discussing welfare and Al Sharpton's taxes if that's your calling.
What cheek!
Saying earning 60k to 70k is irrelevant because elsewhere (outside of NYC) it is a perfectly decent wage is a load of codswallop.
Suppose if someone commuted from Pennsylvania or equally remote location to work in NYC then possibly it would work, but otherwise for those whom MUST and or DO live within the borders of NYC or close enough to it then it matters a great deal.
First and foremost off the bat nearly one-third of that yearly income vanishes in taxes. Depending upon one's domestic situation some of that money may or may not be reclaimed but your wonderful living of 70k is now effectively reduced to just under 47k.
Saying earning 60k to 70k is irrelevant because elsewhere (outside of NYC) it is a perfectly decent wage is a load of codswallop.
Suppose if someone commuted from Pennsylvania or equally remote location to work in NYC then possibly it would work, but otherwise for those whom MUST and or DO live within the borders of NYC or close enough to it then it matters a great deal.
First and foremost off the bat nearly one-third of that yearly income vanishes in taxes. Depending upon one's domestic situation some of that money may or may not be reclaimed but your wonderful living of 70k is now effectively reduced to just under 47k.
I wonder how many of those jobs are full/part time? BTW lmao @ codswallop Bugsy!
Saying earning 60k to 70k is irrelevant because elsewhere (outside of NYC) it is a perfectly decent wage is a load of codswallop.
Suppose if someone commuted from Pennsylvania or equally remote location to work in NYC then possibly it would work, but otherwise for those whom MUST and or DO live within the borders of NYC or close enough to it then it matters a great deal.
First and foremost off the bat nearly one-third of that yearly income vanishes in taxes. Depending upon one's domestic situation some of that money may or may not be reclaimed but your wonderful living of 70k is now effectively reduced to just under 47k.
So you're telling me that everyone in NYC should be earning $150k?+
That's not the way the world works, unfortunately. If you want a high-salary, pursue a highly compensated career. NYC is expensive and living in expensive NYC is a choice, a choice people pay dearly for.
I can see why you aren't jumping up and down at the news but at the end of the day, it is the largest drop in 38 years and NYC is finally outpacing the nation by a healthy margin when it comes private sector job creation. That's good news, not bad. Even the holy grail financial services industry is FINALLY digging itself out from the hole and is a net gainer.
Last edited by London Lawyer; 11-21-2014 at 11:54 PM..
Great news. Not everyone is owed 100k for their job, and as far as the taxation situation is concerned, NYers only have themselves to blame for wanting big government and resenting "the rich" and thinking they'll punish them with high taxes.
So you're telling me that everyone in NYC should be earning $150k?+
That's not the way the world works, unfortunately. If you want a high-salary, pursue a highly compensated career. NYC is expensive and living in expensive NYC is a choice, a choice people pay dearly for.
I can see why you aren't jumping up and down at the news but at the end of the day, it is the largest drop in 38 years and NYC is finally outpacing the nation by a healthy margin when it comes private sector job creation. That's good news, not bad. Even the holy grail financial services industry is FINALLY digging itself out from the hole and is a net gainer.
if they want a "middle class life style in nyc ,then yes they need about 2x the country average for the same lifestyle.
as the ny times found
"
By one measure, in cities like Houston or Phoenix — places considered by statisticians to be more typical of average United States incomes than New York — a solidly middle-class life can be had for wages that fall between $33,000 and $100,000 a year.
By the same formula — measuring by who sits in the middle of the income spectrum — Manhattan’s middle class exists somewhere between $45,000 and $134,000.
But if you are defining middle class by lifestyle, to accommodate the cost of living in Manhattan, that salary would have to fall between $80,000 and $235,000. This means someone making $70,000 a year in other parts of the country would need to make $166,000 in Manhattan to enjoy the same purchasing power.
A bit slow, aren't you? The headline perfectly described the topic at hand which was unemployment drop and private sector jobs. Statistics are statistics, and unemployment levels saw the biggest drop in 38 years and that's that.
And hate to break it to you sweetheart, but most Americans/New Yorkers aren't surgeons or top lawyers and shouldn't be making $100k or $500k. $60-70k is higher than what most American wage earners make and that salary perfectly reflects their skill level, New York address or not.
But you're free to go back to wallowing in your misery and discussing welfare and Al Sharpton's taxes if that's your calling.
I agree 100% NYC is expensive but it's ridiculous to think everyone deserves to make $200K just because it's expensive here. A $60-$70k salary would be appropriate for jobs of a certain skill level and despite what some may argue on here, you can live on that amount in NYC (just not in a doorman building on the UES). In fact, someone with a $70k salary, a steady job, and is financially responsible can buy a co-op in non-hip but safe areas of the outer boroughs.
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