Happy Labor Day ?
The market recently had another tumble on the red (negative) due to some obvious uncertainty within the economy. This came after reports that The U.S. economy added no new jobs in August as the unemployment rate stayed steady at 9.1 percent, according to the Bureau of Labor Statistics reported on Friday. It is also reported that there are plenty of signs of a future slow growth economy at a (GDP growth of just around 1 percent) and not to mention the stagnant high unemployment. This is quite a disappointment and downright a big concern to me. Having a growth that slow with very high unemployment added with the bickering between the two parties in Washington is a formula for disaster.
So, how has Rockland been affected? I read somewhere that the unemployment here in Rockland County has been one of the lowest in the state at just hovering above 6.5 percent. At a population of about 300,000 people that is just about 18,000 workers who needed jobs. Now we all know that is still alot of people who are unemployed, but in comparison to other counties around the country, we are still on top. Rockland County in my opinion has not been affected greatly as other the counties in the New York State. I have spoken to several Rocklanders that have told me that due to the uncertainty and slow economy, they are more careful and frugal about their money and consumer ways. Happy Labor Day to all and be safe.