The American economy appears to be on the up.
And that’s evident in New York City’ s unemployment rate.
The Big Apple’s jobless rate hit a sever-year low, dropping from 6.1 percent to 5.7 percent.
The new jobs, some 95,000 of them, are located mainly in private sector …
and largely in private education and health services.
City officials said it was the highest quarterly number of employment for city dwellers in 39 years.
Overall in the US, unemployment rates dropped in 25 U.S. states, including New York state.
The U.S. Labor Department said the countrywide jobless rate was steady at a seven-year low of 5.3 percent.
Signs of an improving economy heightened expectations that the Federal Reserve could raise its interest rate as early as next month.
Many Americans are still anxious about the modest recovery.
Experts say that while the economy is strong enough to elicit a Fed rate hike, it isn’t strong enough to excite economists.