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The number of persons employed part time for economic reasons (either because hours were cut back or they couldn't find full-time work) was essentially unchanged at 7.8 million. Bloomberg highlighted the 2,000 permanent jobs created by the new arena in his final State of the City address, which was delivered at the Barclays Center. Gib Veconi of the neighborhood advocacy group Brooklyn Speaks said that while the jobs are a welcome change for unemployed Brooklynites, the number and quality of jobs at the Barclays Center don't measure up to what was originally promised, and pale in comparison to the amount of public subsidies the arena received.


The city's Independent Budget Office has calculated that the arena received about $750 million in direct and indirect taxpayer-funded subsidies, Veconi said. Hatzius also says that because the decline in labor force participation rate accounts for the entire decline in the unemployment rate, it shows how "relatively poor" an indicator of labor market conditions the headline unemployment rate actually is. The mayor noted that some 30 percent of Barclays Center employees are, like part owner Jay-Z once was, residents of public housing.

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