Wall Street work dries up in NY even as banks and brokers coin record profit

Wall Street work is nice if you can get it. Trouble is, there’s less to be gotten in New York than ever.

The city is on pace to lose 4,900 Wall Street jobs this year after shedding 3,600 in 2020, the most since the Great Recession, according to a report Thursday from the state comptroller’s office. In addition, New York’s share of securities-industry jobs nationwide hit a fresh low of 17.8% in August. Comptroller Thomas DiNapoli attributed the decline to technological advances and the relocation of jobs.

The losses in headcount come as securities firms are making record sums, and they’re discouraging news for commercial landlords counting on

→ Continue reading at Crain's New York Business

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