While Wall Street profits hit near-record highs in the first half of 2021, New York City’s securities companies continue losing jobs at an accelerated pace according to a report released on Thursday. Wall Street profits surged in the first half of 2021 to $31 billion in pre-tax earnings beating an already outsized first half of the prior year profits by 12.5 percent and hit their highest level since 2009, said the report (pdf) by the office of New York State Comptroller Thomas DiNapoli. In the first six months of 2020, Wall Street profits jumped 82 percent from a year earlier to $27.6 billion, according to a prior year report. The question remains whether this growth pace will continue during the second half of this year eventually reaching the record $61.4 billion in pretax revenue generated by Wall Street in 2009, said the office of the state comptroller in a statement. …
Wall Street Profits Soar Despite Accelerated Job Losses During Pandemic
October 22, 2021
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