A Bad Time to Be a Broker?

By Paul Kedrosky · July 30, 2007 · ·

Just as the credit crunch hits and banking business drops off somewhat, the securities industry has surpassed its peak employment from back in the dot-com days. That’s gotta be auspicious:

U.S. securities firms added 10,000 staff in June, pushing employment levels in
the industry to 848,300, higher than the previous peak of 840,900 in March 2001.
The monthly rise is the biggest since June 2000, when 12,600 staff were hired
after the dotcom bubble burst.

Figures published last week by the Securities Industry and Financial Markets
Association, a U.S. industry lobby group that represents the biggest
participants in the sector, showed that American investment banks have hired 97,
300 staff since October 2003, the end of the last downturn.

More here, and a boom-bust paper on the securities industry’s employment trends here.

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