Part 4/11:
Case in point: JP Morgan Chase, a symbol of Wall Street, now employs more people in Texas (32,000) than in New York City (24,000). This exemplifies a broader trend: financial giants are shifting their headquarters and operations to states that offer more favorable tax policies and regulatory climates. New York's financial sector lost 8,400 jobs in just the first half of this year—a stark contrast to employment gains just a year prior—highlighting an accelerating decline.