Governor David Paterson today announced that BlackRock, the world’s largest asset manager, has promised to have 1,530 New York jobs by the end of this year and add another 200 New York jobs over the course of 2011.
By way of comparison, the New York Department of Labor says that the state lost 15,600 private-sector jobs from August to September.
“I am pleased to join BlackRock in announcing this expansion of good paying financial services jobs in New York City,” Governor Paterson said in a statement.
BlackRock CEO Larry Fink, meanwhile, said, “BlackRock believes it is important to continue to strengthen our ties with the State.”
Strengthening ties makes sense, we guess, when you manage trillions in assets related to Fannie Mae, Freddie Mac, AIG and other government-affiliated credit-crisis strategies. But still, this whole thing is kind of weird. Why would BlackRock publicly commit to hiring more people over the course of next year, why would the government single them out for doing so, and why would the addition of 200 jobs over the course of next year — when the state unemployment rate sits at a sickly 8 percent? What’s the game here?
We reached out to the governor’s office and will update should we hear back.
mtaylor [at] observer.com | @mbrookstaylor