The financial sector is the state's main economic engine and the state comptroller said profits were reviving surprisingly quickly and fewer jobs might be lost than had been anticipated.
The Economic Policy Institute, a liberal think tank, estimates that 2.3 million U.S. jobs were lost between 2001 and 2007 due to the Chinese trade gap.
Although fewer people are losing their jobs as the economy inches forward, the jobless rate rose to 10.2 percent in October, the highest in 26-1/2 years.