Wall St. Hiring in Anticipation of an Economic Recovery

[dtotire]

Source: NYTimes

Wall St. Hiring in Anticipation of an Economic Recovery
By NELSON D. SCHWARTZ
Published: July 10, 2010


While much of the country remains fixated on the bleak employment picture, hiring is beginning to pick up in the place that led the economy into recession — Wall Street.

The shift underscores the remarkable recovery of the biggest banks and brokerage firms since Washington rescued them in the fall of 2008, and follows the huge rebound in profits for members of the New York Stock Exchange, which totaled $61.4 billion in 2009, the most ever. Since employment bottomed out in February, New York securities firms have added nearly 2,000 jobs, a trend that is also playing out nationwide at financial companies, commodity contract traders and investment firms.

Though the figures are small in comparison to overall Wall Street employment, executives, economists and headhunters say they expect the growth to pick up steam in the coming months.

“I think we’re seeing some hiring in anticipation of better times,” said Rae Rosen, a regional economist at the Federal Reserve Bank of New York. “Wall Street typically hires in anticipation of the recovery, and there is a sense that the economy has bottomed out and is slowly improving.”


http://www.nytimes.com/2010/07/11/business/11rebound.html?_r=1&hp




Read more: http://www.nytimes.com/2010/07/11/business/11rebound.html?_r=1&hp

[RUMMYisFROSTED]

1. "Remarkable" recovery?

Hardly.

[Newest Reality]

2. I needed a good laugh! Heheh. - NT

[edhopper]

3. Wall Street Hiring in Anticipation

of grabbing a bigger piece of the American Economy while the rest of the country goes and fucks themselves.

[joe black]

11. Gotta process those SS checks coming in.

Thanks Alan Simpleman.

[Po_d Mainiac]

4. This is the real transfer of wealth

And unlike the stupidity professed by Limpballs and company, it's the fucking banks stealing/fleecing as many taxpayer dollars as possible, before the crushing crash.

The next round of "quantitative easing" is just around the corner, and Wall St. wants to be in position to take a feeding tube directly from 33 Liberty. (home of the New York Fed---Turbo's old haunt)
:grr:

[bullpit]

5. There could never be a shortage of great minds

And that's just where all the top tech co., Investing firms, top accounting firms and other Science/math tech oriented co. have there recruiters. There are always new and better math whizzez out of the top universities and colleges with minds that have been tracked for several years in many cases just as athletes are...all in the hope that one of these folks will make others a lot of money one day.

[fasttense]

8. What a very sad statement on our society.

that our best and brightest are gathered together to make the uber wealthy even richer.

Now tell me what is the God of the US?

[Lost4words]

10. The God of the USA is Holly Profit at any cost.

with very few exceptions our leaders and population are wholly Godless!!

[SILVER__FOX52]

6. That our Leaders are not tracking this and

condemning it speaks volumns. Very, very Sad. Hope maybe gone.

[defendandprotect]

7. Likely setting up for their next rip off ... are they awaiting Social Security money?

[Lost4words]

9. what a load of garbage that is!