“Down with bankers!”
No, that’s not the sound of the Zuccotti crowd protesting, but the sound of New York employers slashing their payroll, according to the city budget office’s “monthly report on current economic conditions.”
Between the 2007 peak and mid-2010, New York’s financial industry lost 39,000 jobs, leaving 428,600 left.
But in the spring of 2010, finance started adding back jobs, gaining 9,000.
Since this May, though, finance has “reversed course.” In the past four months, the industry has dropped 2,400 jobs. The securities industry, in particular, has been shedding heads, losing 3,800 jobs.
If you’ve been reading the papers, the numbers are no surprise … but there they are, confirmed in black and white.
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