Latest update: 21/10/2009 

- financial crisis - New York - unemployment - US economy - USA


New York's slow recovery

New Yorkers are used to working hard. But with unemployment nearly doubling over the last year, many find they’re working harder than ever to keep their job, or just to find one.

By Cyril VANIER / Willy BRACCIANO

A year ago, Lehman Brothers -one of the world’s biggest investment banks- collapsed, accelerating a severe financial crisis. Markets worldwide experienced one of their worst years in decades. Banks stopped lending to each other, slowing down the financial system.

But that’s only half the story: the financial crisis turned into an economic disaster, impacting the lives of millions.

We went to New York, the Ground Zero of finance, where the crisis began, to find out how ordinary people are doing. What we found is a city struggling to recover. It doesn’t show when you’re standing in the middle of Manhattan, but scratch the shiny surface and you’ll see the effects of a weak economy. Lionel, the cab driver in search of customers; Ravinda, the labourer eager for more hours on the factory floor; Amy, the unemployed financial expert forced to create her own job: these are the faces of New York’s economy.

 

Egypt after the revolution
25/05/2012 - REPORTERS

Egypt after the revolution

Egypt has just held the first free and democratic presidential election of its history. The run-off will take place mid-June. Since the fall of Mubarak, the country has been run by the military, the Supreme Council of the Armed Forces. France 24 went to meet Egyptian voters.
EXCLUSIVE - Sudan: The Blue Nile’s Forgotten Rebellion
18/05/2012 - REPORTERS

EXCLUSIVE - Sudan: The Blue Nile’s Forgotten Rebellion

Since September, war has been raging between the Sudanese Revolutionary Front and the Sudanese Armed Forces in the Blue Nile State. FRANCE 24's James André, Chady Chlela and Stéphanie Braquehais went to the frontline with the rebels.
No more 'Made in China'?
11/05/2012 - REPORTERS

No more 'Made in China'?

They’re the worker bees of China’s labour market – the four million poorly paid men and women who drive Guangdong’s massive textile industry. But now they’re demanding higher pay and better conditions, and in response companies are relocating to countries where labour is even cheaper – like Vietnam, Cambodia and Bangladesh. "Made in China" is a worldwide brand, but are we now witnessing the beginning of its end?
Greece's makeshift economy
04/05/2012 - REPORTERS

Greece's makeshift economy

With wages slashed, companies going bankrupt and mass unemployment, Greece has borne the full brunt of the economic crisis. Like Yannis, everyone has to find a way to feed their family. Throughout the country, hustles, scams and under-the counter payments are fuelling a black economy in which anything goes.
Black gold brings hope to French Guiana
27/04/2012 - REPORTERS

Black gold brings hope to French Guiana

French Guiana, an overseas department bordering Brazil, is one of France's poorest regions, where unemployment is at a record level. But with oil being discovered, locals are starting to hope for a better life. Will they benefit from the black gold?

Comments
Post new comment
To prevent automated spam submissions leave this field empty.

Related Content
Close