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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

2017-03-23 Europe

Video: Crimean dissidents silenced by Moscow

Three years after the annexation of the Ukrainian peninsula of Crimea, Russia has deployed all the tools at its disposal, in the police and the justice system, to silence...

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2017-03-16 Americas

Canada’s indigenous people determined to improve their lives

Although Canada regularly tops international rankings for its quality of life, the daily existence of the country’s indigenous people, also known as "First Nations", has more in...

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2017-03-09 Middle East

Iraq's lost children: Victims of post-traumatic stress

In Iraq, thousands of civilians are fleeing the battle of Mosul against the Islamic State group jihadists. Many of the displaced have reached IDP camps in the north of the...

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2017-03-03 Africa

Libya: Six years on, what remains of the revolution in key city of Zintan?

Six years have passed since the outbreak of the revolution that led to the ouster and killing of Libyan strongman Muammar Gaddafi. With the country divided between rival clans,...

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2014-03-14 Bashar al-Assad

Syria’s chemical attacks: the inside story

A chemical weapons attack targeted the suburbs of Damascus in August 2013. The West threatened air strikes in response, and Syria agreed to destroy its chemical arms stockpile....

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