WOODBURY - The latest jobs report released today has hit hard for many out-of-work Long Island residents, with the unemployment rate rising to 9.2 percent.
The Labor Department says only 18,000 jobs were added in June, which is about 10 times fewer jobs than what economists had been predicting. The losses include nearly 150 layoffs in Nassau County just last week, with another 44 cuts scheduled at Northrop Grumman in Melville this fall.
According to Long Island Association economist Dr. Pearl Kamer, employers are pulling back because high gas and food prices are cutting into consumer spending. He says a high number of foreclosed homes on Long Island are also contributing.