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Analysis

The 2009 Economic Landscape: Financial Sector Woes Pressure the Northeast

Contraction in the nation’s financial sector is magnified in New York State and particularly New York City— the nation’s financial center. Statewide, the contribution of financial jobs to total wages has increased in recent years. At its peak in 2007, wages from financial jobs accounted for 25 percent of statewide wages, considerably more than their contribution at the national level. 

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    Last Updated: November 20, 2025