by Astrid Spota

New York City’s seasonally adjusted unemployment rate dropped to 9.4 percent in July, the State Department of Labor has reported. This decrease from last year’s peak of 10.5 percent marks the seventh straight month of declining unemployment in the city, with job gains in financial services, professional and business fields and leisure and hospitality.

But unfortunately, these figures don’t tell the whole story. As a recent study by the Center for Labor Market Studies at Northeastern University illustrates, lower-income households are more likely to experience unemployment than higher-income households. This study found that the unemployment rate for households earning $12,499 or less was 30.8 percent, almost 10 times that of households earning $150,000 or more (3.2 percent).

Furthermore, unemployment calculations don’t include job-seekers who have stopped looking for a job because they can’t find work, or underemployed individuals who accepted a part-time position to make ends meet. So the economic situation may actually be worse than reported.

And while the gradual uptick in employment has caused some economists to be cautiously optimistic, the unemployment rate doubled from 4.7 to 9.4 percent between the start of the recession in December 2007 and July 2010 (see chart below).

In these tough economic times, the Food Bank is working to strengthen the safety net that is so essential for New Yorkers affected by the recession. Our network of food pantries and soup kitchens provides food for low-income people of all ages in all five boroughs; our Tax Assistance Program helps secure millions of dollars in refunds to stretch budgets and boost the local economy; and our food stamp programs help enroll New Yorkers in this important federal benefit.

There is a long road ahead before the jobless rate returns to pre-recession levels. And with your support, the Food Bank will be there to help New Yorkers make it through.