THE ADVANTAGE OF PLAYING HOME TO WALL STREET

BANZAI7 NEWS--The unemployment rate in New York City jumped in December to 10.6 percent, its highest level in nearly 17 years, as hotels, museums and builders eliminated jobs and hiring remained weak in most other businesses, the State Labor Department said Thursday.

Last month marked the first time since the recession began two years ago that the city’s unemployment rate was significantly higher than the nation’s.

This news coupled with the slow motion commercial and residential real estate disaster gives New Yorkers good reason to love their bankers.