Job Market Monitor
Wall Street
Working on Wall Street – The occupational hazards
All occupations have hazards. An occupational hazard of the Internet columnist, for instance, is that he becomes the sort of person who says whatever he thinks will get him the most attention rather than what he thinks is true, so often that he forgets the difference. The occupational hazards of Wall Street are more interesting … Continue reading
Unemployment in US – Who’s right, Wall Street or Brookings ?
Every month since the fall of 2012, the Brookings Institution has published a forecast for the path of the unemployment rate over the next six months. These forecasts are a familiar past-time for economists, but Brookings has a bold claim: their model “can outperform the Fed and professional forecasters.” This is a good time for … Continue reading
Wall Street / Biggest Job Cuts Yet to Come ?
Wall Street firms must cut more jobs to boost their return on equity and satisfy shareholders, said Meredith Whitney, a banking analyst and founder of Meredith Whitney Advisory Group LLC Continue reading
Wall St / Layoffs continue
Wall Street may seem like its old self again. Financial giants including Goldman Sachs Group Inc. raked in mega profits in 2012. Bonuses are expected to fatten more Wall Streeters’ pockets than last year. The Dow Jones industrial average has been flirting with an all-time high after topping 14,000 for the first time in half … Continue reading
Finance / 300,000 jobs gone in the past two years, more than half a million in four years
Wall Street’s cost cuts and dismissals, which have helped erase more than 300,000 financial- industry jobs in the past two years, are far from over. Citigroup Inc. (C)’s announcement yesterday of plans to eliminate 11,000 positions in units spanning equities trading to consumer banking is the latest sign of strain from a market slowdown, stiffer … Continue reading
Wall Street – More Layoffs to Come
Big banks are unlikely to be broken up — but they will keep getting smaller by getting rid of a large numbers of workers. Wall Street financial firms cut more than 75,000 people in 2011, and their employees are bracing for another round of layoffs. Analysts estimate that Wall Street banks will have roughly 10 … Continue reading
Finance – Midlevel Jobs Going Out of Wall Street
New York’s biggest investment houses are shifting jobs out of the area and expanding in cheaper locales in the United States, threatening the vast middle tier of positions that form the backbone of employment on Wall Street. The shift comes even as banks consider deeper staff cuts here, which could undermine the state and city … Continue reading
Wall Street To Cut 21,000 Jobs
Wall Street is earning profits at the moment but that doesn’t mean jobs on the famous financial exchanges of New York are safe as Wall Street recruiters announced this week that “job creators” will be slashing 21,000 jobs from the securities divisions alone. Analysts predict that worldwide cuts will be even larger as big banks … Continue reading
UPDATE – Wall Street cuts jobs | 459,400 jobs in four years
U.S. financial sector loses 459,400 jobs in four years – The Business Journals The recession may officially be over, but its effects are lingering in the financial sector. The nation’s 100 biggest metropolitan areas lost a collective total of 459,400 financial-activities jobs during the past four years, according to an On Numbers analysis. The U.S. … Continue reading
Wall Street preparing to cut jobs
Having already slashed bonuses, banks including Citigroup Inc.,Goldman Sachs Group Inc., J.P. Morgan Chase and Morgan Stanley are preparing to cut dozens of jobs, including some held by senior bankers, according to people familiar with the matter. As they pursue this targeted round of trims as soon as next month, they and rivals are also … Continue reading
Former Lehman Worker Says Long-Term Unemployment Is ‘Demeaning’
At one time, it was easy for Pamela Vernocchi to get a job — she’s worked at several large financial firms on Wall Street — until she got laid-off in 2008. Since then Vernocchi has been on 30 job interviews and submitted around 4,000 resumes. She’s still unemployed. “Back in the day, I had to turn … Continue reading
Has Congress made the recession worse? CNN
Since the economy dropped off a cliff in 2008, members of Congress have not exactly been shy about casting blame for no-or-slow growth on a variety of bureaucrats, outside institutions and Wall Street power players. But if lawmakers are looking for an explanation as to why the recession lasted so long, they should look no … Continue reading
Rising Share of Americans See Conflict Between Rich and Poor | Pew Social & Demographic Trends
The Occupy Wall Street movement no longer occupies Wall Street, but the issue of class conflict has captured a growing share of the national consciousness. A new Pew Research Center survey of 2,048 adults finds that about two-thirds of the public (66%) believes there are “very strong” or “strong” conflicts between the rich and the … Continue reading
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