Marketwathc reports: “…The securities industry still employs about 800,000 people nationwide, according to the Securities Industry and Financial Markets Association. That is only 7.8% fewer than the all-time high, and roughly the same as in 2006.
It isn’t a stretch to think that employment could fall to 2003 levels, meaning another 50,000 job cuts. And, in a worst-case scenario, the decline could feel like a throwback to pre-tech bubble days, when the industry employed 100,000 fewer people than at the end of March.
So, no, your eyes aren’t deceiving you. Wall Street is shrinking. Lanes are closing. They may stay that way for a while...
Read more at http://www.marketwatch.com/story/more-job-cuts-coming-to-wall-street-2011-07-28?mod=MWCommentaryandBlogs&mod=marketwatch
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