The Inside Job

225,000 Jobs May Be Lost in New York

November 24, 2008 RSS Feed Print

The New York state Comptroller is predicting that 225,000 jobs could be lost in the state over the two-year period ending October 2009, Bloomberg reports.

"Wall Street’s importance to the economy is so great that for each financial-sector job lost, two positions will vanish in other industries in New York City and 1.3 jobs will disappear elsewhere in the state," according to the comptroller's report.

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As difficult and painful as the recovery will be, it presents us with an opportunity to reevaluate our priorities and values. Rampant materialism and commercialism has been a part of us for so long that it seems "normal" when, in fact, nothing could be further from the truth. There is no need for multi-million dollar mega square foot houses, gas guzzling $80,000 cars we drive, or 80 hour workweeks to support such nonsense. I'm in my mid 60's and have never seen anything close to the magnitude of the recession we are spiraling into. I have no idea how many years it will be before the economy turns around but it will surely get much worse before it does so. Maybe this would be a good time to reflect on exactly what brought us here and what type of changes in our values and lifestyles we should make for our country's good as well as our own.

Jim of ME 8:43AM November 25, 2008

So far nothing it been saying about Homeless Issues which are outdoors for long time by now. Hopefully upthere they doesn't keep forgetting such poors communities struggling after so much 'states budgets spendings cuts' targeting often their surviving programs since such failed 'Newt Contract with America' came into effect. Housing-DSS Dept. went mess-up within many others poors communities assistances programs which came to vanished due such 'Contract'. Now, hopefully with the new administration in progress something nice came along to correct these old issues of Nationwide Homeless one day, the sooner the better in order to get them out of such misery soon. We all American Residents As Well Anyhow and is no good to let them drown till' die any longer.

Mike Carattini of CT 10:48PM November 24, 2008

Remember who/what used to be paying for those positions?
Nothing but bubbled assets, main streeters being out-traded by Wall streeters, and taxpayers picking up the too-big-to-fail losses on such things as CDOs and credit default swaps.
I know this is bad for New York, but not necessarily for everyone else. New York, though, is about to discover that their city can only run on ENORMOUS infusions from us and the international community.
Giuliani and Bloomberg will be proven as not miracle-leaders after all. NY will be going hat in hand to Washington very soon.

of 6:57PM November 24, 2008

225,000 Jobs May Be Lost in New York

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