New York State’s economy, like that of the nation, has taken a roller coaster ride since the start of the 21st century. The national recession of 2001 and its aftermath hit the Empire State with job losses proportionally larger than those in most states. Following more than five years of steady recovery from the 2001 downturn, New York was again hit hard by the Great Recession – losing more than 300,000 jobs in 2008 and 2009.