December was a good month for employment in this segment of Financial Services with the report showing an increase of 4,300 jobs, bucking the downtrend for most other industries. This was only the second gain this year and the largest increase in employment since June 2008. It was encouraging to end a very bad employment year of 2009 on a positive note; even so 42,000 jobs were lost for the year and nearly 88,000 over the last 18 months. A steep slide to say the least - rivaling post-911 in numbers - in fact the numbers of jobs lost were nearly identical for the two recessions last decade. The size of the industry remains flat over the last 10 years, as well; we entered the decade with 767,700 employees and we ended it with 781,800 - less than 2% growth. |
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