New York City Comptroller William C. Thompson, Jr. today issued the following statement after it was revealed that the nation shed 663,000 jobs in March and the unemployment rate reached 8.5%:

“To think that more than five million Americans have lost their jobs since this recession began and we have an unemployment rate not seen since 1983 is sobering, to say the least.  This news comes after we recently saw New York City’s unemployment rate reach more than 8 percent, reflecting that the country’s economic ills have caught up to us.  Unfortunately, I anticipate the number of New Yorkers who are out of work to continue to increase for several more months before we see any stability in the job market. I am hopeful that the stimulus spending soon to reach New York will help stem the deterioration in the job market and help us on our way to recovery.”

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