Tuesday, January 11, 2011
Finance Jobs Vanish, But Not as Fast as Job Seekers - Deal Journal - WSJ:
"Banks and underwriters trimmed 262,000 U.S. jobs in the past 12 months, or 3.9% of all positions, according to recent data requested from the Bureau of Labor Statistics.
The only reason that the industry unemployment rate did not spike in step was because an even greater number of workers quit the business altogether, jumping to other industries or retiring. The experienced labor force for banks, brokerages and insurance companies fell by 344,000 or 4.8% in the last 12 months."