White House jobs summit raises hopes for employment action in New York City

12/2/09
unemployment
By Garett Sloane

White House jobs summit raises hopes for employment action in New York City

The growing ranks of the unemployed have a message for Washington: Bail us out too!

With New Yorkers suffering through one of the city’s worst periods of job loss, politicians are all too aware they’ll soon join them on the unemployment line unless they boost job creation — and fast.

President Barack Obama will host a jobs summit in Washington, D.C. today that brings together business leaders and experts to help solve the bleakest employment picture in 26 years. The unemployment rate in the city is a whopping 10.3 percent.

Some jobless New Yorkers are skeptical of the summit, saying the proof will be in the job offer.

“If he [Obama] wants to get jobs, it’s necessary to create action,” said Elise Bagley, 21, of Manhattan.

Top economic experts say the summit could lead to just that — action that will throw a lifeline to the desperate.

“There will be targeted efforts on jobs creation and retention,” said James Parrott, director at New York’s Fiscal Policy Institute, a think tank. The measures the federal government could take include direct aid to state and local governments and incentives for businesses to hire people and retain positions, Parrott said.

While the job outlook is bleak in New York, it’s not quite as bad as it was six months ago, said Doug Turetsky, spokesman for the city’s Independent Budget Office, which will release its annual economic forecast today. “Signs of recovery are fragile, and that’s not to say additional help won’t be needed,” he added.

One highly sought outcome from the summit is a bailout of sorts for unemployed workers.

“Stimulus money: Naturally that would aid the cause considerably,” said Jeff Weissenstein, an analyst with city’s Department of Labor.

There is discussion of a second round of stimulus to create public-works jobs and provide incentives for businesses to hire. A major focus will be on small businesses who can’t borrow cash to grow and haven’t been hiring.

That could spare people the same fate as Marie Fort-Manville, 40, of Queens, who was forced to shut her restaurant because of money woes.

“I just closed my business, and now not only am I unemployed, but six of my former employees are too. It’s really tough,” she said.

And if nothing concrete comes out of the summit, it could be incumbent Democrats who will swell the ranks of the unemployed.

“If the election were today there would be a problem but it’s not today it’s 10 months from now,” said Joseph Mercurio, a Democratic media consultant based in the city. “And you can take decisive action and have things change.”

Chris James contributed to this story.
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White House jobs summit raises hopes for employment action in New York City

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