U.S. securities industry employment rose modestly, by 0.7 percent in the fourth quarter of 2009, although it fell by 7.0 percent for the year as a
whole. These job losses reflect both the conditions in the financial services sector and the general trend of rising nationwide unemployment, which hit 10 percent at year-end.

U.S. Department of Labor’s Bureau of Labor Statistics (BLS)1 also show an estimated 7.6 percent of securities industry jobs were lost in the tri-state
area, representing Connecticut, New Jersey, and New York, 2009; 1,600 of them lost in the fourth quarter of 2009. Since the August 2008 peak the
tri-state area has lost 37,800, or 12.9 percent of securities industry jobs.

In full-year 2009, New York State lost 18,400 securities industry jobs, or 9.1 percent, with losses of 1,300 realized in the fourth quarter; New York
City lost 16,300 securities industry jobs, or 9.1 percent, in 2009, with 500 positions created, a gain of 0.3 percent, in the fourth quarter.

About the Report

The securities industry employment report tracks trends of industry employment, with a greater focus on New York State and New York City giving a perspective using quarter-over-quarter and year-over-year data.

Credits

SIFMA Research

• Managing Director, Director of Research: Kyle Brandon
• Research Analyst: Maria Victoria Barba