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NYC to be hit hard by sequester: economist

from The New York Post

Two months' worth of job gains are about to vanish nationwide, warns a Merrill Lynch economist — and New York City, whose unemployment rate is already at an eye-popping 8.8 percent, will be hit exceptionally hard in this employment carnage as Washington begins to enact a series of controversial spending cuts known as the sequester. "It will set the economy back a few months in the job market," Ethan Harris, co-head of global economics research at Bank of America Merrill Lynch, told The Post. "The national job market recovery has been modest, and it has been weaker locally in New York." more


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