Vornado Realty Trust has refinanced 100 W. 33rd St. in Manhattan for $325 million. The 1.1 million-square-foot mixed-use property consists of 243,000 square feet of retail space and 847,000 square feet of office space. It is anchored by JCPenney.
The drop in the U.S. unemployment rate, now at its lowest in three years, masks the fact that millions of unemployed people aren't counted because they've given up the search for work. The unemployment rate would be 9.9%, not 8.3%, if official statistics counted the 2.8 million people who stopped looking for jobs.
A surprising surge of new jobs in January sent U.S. unemployment down to 8.3%, from 8.5% in December.
It was the lowest rate since February 2009. Employers added 243,000 workers to nonfarm payrolls in January, the largest monthly gain since April.
January saw 243,000 jobs created -- 21,000 of them in the construction sector, according to data released by the Labor Department today. The unemployment rate is now at 8.3%, down from December's 8.5%. More than 64% of all industry saw job gains for the month.
Job creation slowed to a crawl in July, the U.S. Department of Labor reported this morning. Just 32,000 new non-farm jobs were created; far less than the 243,000 a survey of economists predicted. The overall unemployment rate fell to 5.5%.