That's the unemployment rate in New York City right now, having jumped 1% in one month thanks to the AIGs and Lehman's free falling :

The city’s unemployment rate increased nearly one percentage point last month, indicating that Wall Street’s woes are starting to take their toll on the local economy. At 5.8%, New York City’s seasonally adjusted unemployment rate is still below the national average of 6.1%, but that gap is steadily closing.

The adjusted rate, which only accounts for people actively seeking work, made its largest monthly jump in at least three decades by increasing from 5% in July. It is up from 5.3% in August 2007.

The number of people collecting unemployment, considered by some to be a more accurate picture of economic hardship, totaled 74,795 in August, up 5.7% from 70,700 in July and up 18.2% over 63,298 in August 2007.

And given unemployment is only calculated by the amount of people "actively searching" through job placement agencies, you know those numbers are much, much higher.

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