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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

2016-06-23 World War I

World War I: When northern France was on German time

During World War I, thirteen of France's regional departments were under German occupation. For four years, two million French citizens took their orders from Berlin. No more...

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2016-06-17 USA

Video: American conservatives strike back

Some southern US lawmakers have launched a legislative offensive to protect the "religious freedom" they believe is under threat. In Mississippi, homosexuals can now be denied...

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2016-06-09 Iran

Video: A year of change for Iran since nuclear accord

It’s now been a year since Iran struck its historic nuclear accord with six world powers under which Tehran vowed to curb its nuclear programme in exchange for the lifting of...

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2016-06-03 Nigeria

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In just a few years, Nigeria has climbed the cinematic ladder and pushed Tinseltown into third (with Bollywood in India holding the top spot). Today, Nigeria is inundated with...

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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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