China Financial Daily

New York Government layoffs: New York government plans to lay off 7,000 employees again
Queens, New York in the United States, the unemployed in the streets waiting for employers to employment. New York Mayor Michael Bloomberg has announced that due to financial difficulties, the New York City will be the beginning of July 1 of the 2009 financial year a further reduction of 7,000 employees. Bloomberg had announced in January this year, due to financial difficulties, the New York City in the new financial year will be laid off 23,000 people.

Government of New York City plans to lay off 23,000 people
Because of the financial tsunami and decline of income, Mayor Michael Bloomberg implement the plan to make both ends meet, so on Friday, Government of New York City announced to cut down one billion U.S. dollars (7800 million yuan) spending and lay off 23,000 people.

New York City depends on the profitability of Wall Street at a large extent, whereas the financial tsunami on Wall Street last year lost about 47.2 billion U.S. dollars (368.1 billion yuan). It is expected that the Wall Street will suffer heavy losses.