Bull markets aren’t what they used to be, at least when it comes to New York’s economy.
Although the stock market is surging and profits on Wall Street last year hit their highest level since 2012, the good times are not translating into jobs the way they did a decade ago, before the financial crisis and the Great Recession hit.
Employment in the securities industry in New York City has risen for three straight years. But, at 177,000, there are still 10,000 fewer jobs in the sector than in 2008.
