Wall Street Seen Axing Fewer Jobs Than Expected


	Wall Street Seen Axing Fewer Jobs Than Expected

Forbes Markets

5-29-2008 5:22 PM

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tags:

wall street, jobs, new york city, financial cities

Forbes Markets says:

Still a lot of pink slips though.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://www.clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/040c20be-338e-4af9-adf4-678956eb9c9c/C1B74E83-3E29-4382-A003-BE1FFF52C803/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.reuters.com/article/businessNews/idUSN2926075020080529?feedType=nl&feedName=usdai" href="http://www.reuters.com/article/businessNews/idUSN2926075020080529?feedType=nl&feedName=usdai" style="font-size: 11px;">www.reuters.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.reuters.com/article/businessNews/idUSN2926075020080529?feedType=nl&feedName=usdai"><P>New York City's financial sector might only slice 15,000 to 25,000 jobs in the current downturn, which could prove shorter than the mayor has predicted, the city comptroller said on Thursday.</P><SPAN id="midArticle_1"></SPAN>
<P>In contrast, the financial sector that is such a vital part of the city's economy slashed 40,200 jobs in the previous 2000 to 2003 retreat that straddled the September 11, 2001 air attacks, Comptroller William Thompson said in his report.</P><SPAN id="midArticle_2"></SPAN>
<P>Battered by profit-gouging subprime mortgage loans, New York Stock Exchange member firms that do business with the public lost $7.3 billion last year, and the current job-losing cycle that began in August 2007 should run through March 2009, the Democrat added.</P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/C1B74E83-3E29-4382-A003-BE1FFF52C803/blog/" title="blog or email this clip"><img src="http://content8.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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