Updated 11/25/2008 09:25 AM
DiNapoli: Financial Crisis Could Cost The State Thousands Of Jobs
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State Comptroller Thomas DiNapoli released a report Monday showing that the financial crisis could cost the state and city 225,000 jobs and $6.5 billion in tax revenue.
DiNapoli says though the mayor and governor have been "proactive in dealing with the crisis," New York may require federal assistance.
"Just as they're shoring up financial institutions with help, they need to shore up the states, as well, because we're being so hit by the revenue loss," he said last night on "Inside City Hall."
DiNapoli says the city's financial industry has already lost more than 16,000 jobs and could lose a total of 38,000 by next October. Another 10,000 jobs, he says, could be lost in banking, insurance and real estate.
The comptroller estimates total private sector job losses could reach 175,000.