225,000 Jobs May Be Lost in New York

State comptroller says Wall Street losses may spread and cost 225,000 jobs by 2009.

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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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