News hit over the past few weeks that a number of Wall Street heavyweights, including Goldman Sachs and Deutsche Bank, were once again cutting payrolls, while others, like Bank of America Merrill Lynch, were lowering bonuses.
Since the recession began in December of 2007, New York City has lost more than 18,000 bankers from its ranks, making it 10 per cent smaller today.
Currently, 446,200 men and women work in the financial services industry in the city’s five boroughs, with 170,900 of them working at investment banks, commodities houses, and the exchanges.
We thought it made for a pretty interesting chart.
Below, a look at employment in the sector over the past two decades.
Photo: Eric Platt/Business Insider, Data: New York State Department of labour