Wall Street Lost Fewer Jobs Than Forecast in Recovery

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Wall Street Lost Fewer Jobs Than Forecast in Recovery (Update2)
By Henry Goldman
Nov. 17 (Bloomberg) — Wall Street is recovering faster than the national economy, with New York City’s four largest investment firms reaping profits of $22.6 billion through Sept. 30 after losing more than $40.3 billion last year, state Comptroller Thomas DiNapoli reported.
DiNapoli’s annual report on the city’s securities industry also found that job cuts following the worst credit crunch since the Great Depression may not exceed 35,000. The total is about what Wall Street lost following the 2001 recession and terrorist attacks and less than the 47,000 officials predicted when preparing the city’s June financial plan

Published in Bloomberg November 17, 2009 by Henry Goldman

Wall Street is recovering faster than the national economy, with New York City’s four largest investment firms reaping profits of $22.6 billion through Sept. 30 after losing more than $40.3 billion last year, state Comptroller Thomas DiNapoli reported.

DiNapoli’s annual report on the city’s securities industry also found that job cuts following the worst credit crunch since the Great Depression may not exceed 35,000. The total is about what Wall Street lost following the 2001 recession and terrorist attacks and less than the 47,000 officials predicted when preparing the city’s June financial plan.

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