Washington, D.C.--Congressman Eliot Engel announced the awarding of a $10,928,661 grant by the U.S. Department of Labor to assist more than 7,000 financial industry workers laid-off in the New York Metropolitan area.

The money is from an the initial award of $22 million from National Emergency Grant funds approved to aid 7,404 workers dislocated because of the financial industry crisis.

Rep. Engel said, “Our economy appears to worsen every day. On Friday, it was reported that almost 600,000 jobs were lost in January, raising the unemployment rate to 7.6 percent. The economy is shrinking at the fastest rate in decades.

“New York City and State rely heavily on the financial sector for revenue, and that sector of the economy seems to be collapsing the fastest. The workers from the financial sector were the first out the door and this money will help them get back on their feet.”

The money will be used to offer an array of services for the laid-off workers that will include skills assessment, career counseling, and occupational skills training to help the workers find new employment.

The grant will be used to help workers from the Metropolitan area, which includes northern New Jersey and southwestern Connecticut.