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Latest update : 2009-10-21

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.

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.

 

By Willy BRACCIANO , Cyril VANIER

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Archives

2016-05-26 Ukraine

Ukraine: Searching for missing people in Donbass

For the past two years, Ukraine has been divided. Despite several truces, clashes continue in the eastern regions between pro-Russian separatists and government forces. According...

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2016-05-20 El Salvador

El Salvador held hostage by gangs

Last year in El Salvador, more than one person in every 1,000 was killed, a figure more typical of a country at war. The vast majority of these victims are young men, members of...

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2016-05-13 Eritrea

Video: A visa for Eritrea, the 'African North Korea'

Eritrea, a small nation on the Horn of Africa, is one of the most isolated countries in the world. It is also one of the most secretive, and has been duly nicknamed the “African...

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2016-05-04 Israel

Palestinian ‘knife intifada’ reflects a generation's despair

For the past seven months, Israelis have faced an unprecedented wave of violence: not a real “intifada”, but a series of almost daily "lone wolf" knife attacks. These are not...

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2016-04-28 USA

The vicious cycle of student debt in the US

Student debt in the United States now stands at over a trillion dollars. And it’s going up, to the tune of 2,700 dollars per second. FRANCE 24 reporters Philip Crowther and...

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