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Secretary of Labor Thomas E. Perez
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News Release

ETA News Release: [04/07/2010]
Contact Name: Lina Garcia or Mike Trupo
Phone Number: (202) 693-4661 or x3414
Release Number: 10-0430-NEW

US Department of Labor announces $5.6 million grant to continue to aid New Yorkers impacted by financial industry layoffs

WASHINGTON — The U.S. Department of Labor has announced a $5,594,913 National Emergency Grant increment to the state of New York to continue to provide services to about 5,500 workers affected by layoffs in New York's financial industry.

"The greed and outlandish excesses of some on Wall Street may have distorted the notion of what it means to work in finance, but thousands of working class Americans — accountants, receptionists, and back-office workers — played by the rules and still lost their jobs through no fault of their own. Helping these workers across the Empire State is the right thing to do," said Secretary of Labor Hilda L. Solis.

This second and final increment, awarded to the New York State Department of Labor, will continue the delivery of re-employment assistance to the original 1,873 workers served by the grant. It will also provide services to an additional 3,600-some workers, serving about 5,500 workers in total.

On Feb. 4, 2009, a grant was awarded in the amount of $22 million , with $10,928,661 released initially. On Feb. 26, 2009, the award was modified and split among the states of New York, Connecticut and New Jersey, with New York receiving a modified award of $11,117,723, with $5,522,810 released initially.

National Emergency Grants are part of the secretary of labor's discretionary fund and are awarded based on a state's ability to meet specific guidelines. For more information, visit http://www.doleta.gov/NEG/.