The NY Post reports on the worst of times in New York:

New York City experienced half the overall [statewide job] losses, with jobs falling by 148,600. "Although there were hopes for an improved economy that might have led to job gains in 2002, the national and state economics continued to be weak and jobs declined even further, so that the rate of decline in 2002 exceeded that of 2001," [state Comptroller Alan Hevesi] said in the report.

Big Apple private-sector employment between 2000 and 2002 dropped by 4.7 percent, compared with a 3 percent drop in the state as a whole. Total employment in the city declined to 3.6 million, a 4 percent drop, compared to a 2.3 percent drop statewide, according to the report.

Most of the job losses will undoubtedly be blamed on 9/11. New York will probably be looking for a government handout pretty soon, even though most of the responsibility lies with Republican Mayor Bloomberg, and other New York liberals. Between the smoking ban and commuter tax, New York has not been very business friendly as of late.

The smoking ban, which has already resulted in a senseless murder, will result in lower sales receipts, and thus jobs, for many restaurants and bars. Additionally, there are proposals on the table to raise property taxes again, raise property assessments again, raise corporate income taxes again, and bring back a commuter tax. Last Fall, the NY Times suggested that NYC levy tolls on the East River bridges, which would further dampen employment in Manhattan. Meanwhile, Mayor Bloomberg turned a deaf ear to bodega owners who were losing business due to the massive cigarette tax hike; something Bloomberg referred to as a "minor economic issue".

Unfortunately for us, with an election coming up and democrats looking to make the economy a hot topic, Congress will probably end up writing a spending bill to bail them out. Sure, it may be the city's liberal city council and liberal Republican Mayor that are doing the damage to the city's economy, but it will probably be the American taxpayer that bails them out.