Financial 411: The Stories Behind the Unemployment Numbers

Markets

New York City's unemployment rate dropped slightly last month, bucking the national trend. Markets rose today after reports of a small decline in the number of people filing for unemployment benefits this week.

The Dow climbed 42 points to close at 11,499. The S&P 500 rose eight points, ending the day at 1,243. The Nasdaq was also up, adding 20 points to close at 2,637.

More Arrests in for Alleged Insider Trading

Federal prosecutors in Manhattan have charged and arrested four more people in an ongoing investigation of insider trading on Wall Street. They say the men were part of a network of technology company employees who sold inside information to investors, including hedge funds. The four were charged with wire fraud and conspiracy to commit securities fraud. Last month, an executive of a New Jersey consulting firm was arrested on similar charges. FBI agents also searched the offices of three hedge funds in New York, Connecticut and Boston as part of the probe.

New York City's Unemployment Rate Falls

New York City's unemployment dropped slightly last month. The state's Labor Department says the rate fell to 9.1 percent, down from 9.2 percent in October. Job growth remains strong in the education and health services sectors.  

Barbara Byrne Denham, a chief economist at Eastern Consolidated, a real estate investment firm, explains the numbers. And WNYC's Jody Avirgan, who's been collecting stories from people affected by the recession, shares some of them.