The city’s unemployment rate in June went to 8.7 percent from May’s 8.6 percent, the state Department of Labor reported.
The one-month rise was not itself a significant increase, but after falling consistently each month for nearly a year starting last spring, there have now been four consecutive months without a noticeable decline in the city’s jobless rate.
Most of the drop in the rate from its 10 percent peak has come not from significant job gains but as a result of discouraged job seekers leaving the work force.
The city added 51,400 private sector jobs in the 12 months ending in June. The 1.6 percent growth rate, “is pretty good by historical standards,” according to James Brown, principal economist at the labor department.
Rental rigmarole challenges prospective tenants
With a vacancy rate in Manhattan of under 1 percent, apartments sometimes rent in hours, not days or weeks. Good tenants are not that hard to find. On top of that, evicting problem tenants can be expensive and time-consuming.
So, as the New York Times observes, most landlords here require a lot of information.
They want to see a prospective tenant’s tax returns, pay stubs, bank statements, proof of employment, photo identification and, sometimes, reference letters from previous landlords.
Everyone will run a credit check (many Manhattan landlords look for a score above 700) and just about all, from big management firms to small-time landlords, want to know that your gross income is somewhere between 40 and 50 times the monthly rent.
Luxury sales in the East End (more…)