Wow, considering the fact that Wall Street is about couple thousand feet long this means for every foot of street there are a couple dozen unemployed rich guys. Or not. Sophie --the sweet young thing that wrote the article-- was long on poetic prose but short on reality. She came up w/ her story by reading this article from last week's NY Post where they said "reductions for 2014 were about 20,000 at Brian Moynihan’s Bank of America; 10,000 at Citigroup led by Michael Corbat; and 10,000 at Jaime Dimon’s JP Morgan. Morgan Stanley reports on Tuesday." That's different, it's not Wall street now it's the entire financial services industry for all of 2014.
Just the same, the the NY Post is giving us the impression that the financial community reduced its workforce in 2014. No, they got that wrong too. BLS records for that sector show a 121,000 employee net gain for 2014 --that's a 2% increase. We got 3 banks laying off but the rest of the industry more than made up for the loss.
Good news, I was worried that De Blasio would have less money to redistribute, LOL.
