According to the reports released by the State Labor Department, the unemployment rates in U. S. in January, have dipped to 10.4 percent.

The rate of joblessness for New York is much lesser than that of the rest of the country.

U. S. unemployment reached a terribly high level in August 2008.

"Despite the fact that this was one of the worst financial crises in more than half a century, its effect on the New York City economy was one of the mildest", said Barbara Byrne Denham, Chief Economist with Eastern Consolidated, a real estate services firm in Manhattan.

"It is still kind of bumpy. I don't think there's going to be real job growth for at least four months, maybe longer", he added.

The seasonally adjusted rates for the city appear to be a benefit.

The unemployment rate for the state came out to be 8.8 percent as private-sector employers added 30,500 jobs.

"Smaller post-Christmas layoffs in retail trade and leisure and hospitality, following subdued hiring in the fourth quarter of 2009, accounted for some of the improvement", said James Brown, Principal Economist for the Labor Department.