NY, NJ and CT governors go begging to DC - ask for $12,500 grant to each laid off financial sector worker

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HARTFORD, Conn. -- The governors of Connecticut, New York and New Jersey are asking the federal government for a $48 million emergency grant to help thousands of financial industry workers who are losing their jobs.

Connecticut Gov. M. Jodi Rell said today that she, New York Gov. David Paterson and New Jersey Gov. John Corzine have sent a letter to U.S. Labor Secretary Elaine Chao urging her to approve the grant.

The governors say preliminary estimates show that 82,000 financial services jobs in the New York City metropolitan area will be lost by the end of next year because of the worldwide economic downturn.

The majority of workers in the financial industry are in administrative and computer support occupations, according to the letter.

The emergency grant would allow the states to give each laid-off worker $12,500 to help them find jobs and relocate, and to provide them with other services.

http://www.nj.com/news/index.ssf/2008/11/g...or_wall_st.html