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New York Cash Mobs

New York's economy has lost hundreds of thousands of jobs since 2008, which many consider the epicenter of the financial meltdown. The mortgage crisis started on Wall Street and spread a ripple effect across the entire country.

Unfortunately, everyone from Wall Street executives to factory workers has felt the impact of the economic downturn with jobs and savings threatened; however, the state as a whole has seen positive economic growth since 2010 in most areas. In addition to rising incomes and the lowering of unemployment, the state has seen a substantial increase in the number of small businesses. More and more New Yorkers are taking control of their financial future by working for themselves.

While most of the state is witnessing a splendid recovery, the area around Rochester is still recovering from the bankruptcy of Eastman Kodak. At one time the largest employer in the area, Eastman has closed its manufacturing plants causing unemployment to skyrocket in the Rochester area and the entire state's unemployment rate to rise modestly.

Learn how New York was impacted from the financial meltdown and how the increase of small businesses in the area has helped the economy.