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Economy

Jobs report rose by 559K, disappointing expectations

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The U.S. Labor Department released its jobs report Friday, revealing only 559,000 nonfarm jobs in May. Economists surveyed by the Dow Jones previously predicted that the U.S. would see 671,000 new jobs that month.

Unemployment dropped by only 0.3%. Black adults still top the highest unemployment rate at 9.1% and have seen little change in the past few months. 7.9 million people reported that they lost jobs in May because their employer went out of business due to the pandemic. That number is down from 9.4 million in April.

RELATED: February Jobs Report: 273,000 New Jobs, 3.5% Unemployment

The industries that saw significant increases in employment were leisure and hospitality, in public and private education, and in health care and social assistance. Altogether, they contributed to the majority of new jobs, creating about 505,000 jobs.

You can follow Jenny Goldsberry on Twitter @jennyjournalism.

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Economy

New York City Mayor Eric Adams Proposes Housing Asylum Seekers in Private Homes

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New York City Mayor Eric Adams has unveiled a new plan to potentially place thousands of asylum seekers in private residences while compensating local homeowners and landlords.

During a City Hall press conference, Mayor Adams expressed his vision to move beyond housing single migrant men in churches and mosques and explore the option of utilizing private dwellings.

Adams emphasized the potential savings that could be achieved by redirecting the estimated $4.3 billion budget for housing the influx of migrants into everyday houses of worship and private residences, rather than corporate entities. The mayor suggested that recycling local dollars would benefit both the city and its residents.

According to reports from the New York Post, Adams said, “It is my vision to take the next step to this faith-based locales and then move to a private residence.”

“We can take that $4.2 billion — $4.3 [billion] maybe now — that we anticipate we have to spend and we can put it back in the pockets of everyday, everyday houses of worship instead of putting it in the pockets of corporations.”

“We should be recycling our own dollars,” he continued.

Acknowledging potential obstacles, Adams alluded to a “30-day rule” that City Hall would need to overcome. However, he did not provide further details on the rule or the aspects of implementing the plan.

With over 72,000 individuals having arrived in New York City since last spring, the mayor stressed the urgency of finding sustainable housing solutions beyond taxpayer-funded emergency shelters and hotels. The current system, which accommodates approximately 45,000 people, is deemed unsustainable given the continuous influx of migrants.

Adams indicated that the city would seek ways to bypass existing government regulations that prohibit housing homeless individuals in private homes. Additionally, City Hall aims to work with the state legislature to facilitate agreements that bring illegal basement apartments up to code, presenting a more affordable and viable housing alternative.

The estimated cost of the ongoing crisis is expected to exceed the current $4.3 billion budget, particularly as daily arrivals continue to increase. Last week alone, the city registered 2,200 new arrivals. To address cost concerns, Adams’ proposal to house asylum seekers in houses of worship is projected to cost approximately $125 per night, significantly less than the current expenditure of $380 per night in converted hotels.

Mayor Adams’ plan to utilize private residences represents a significant development in New York City’s efforts to address the housing needs of asylum seekers. However, the feasibility and implementation of this proposal, including overcoming legal and logistical challenges, remain to be seen.

Follow Alexander Carter on Twitter @AlexCarterDC for more!

 

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