Wall Street Employment Plummets

There are some things even a government bailout won’t solve. According to a London-based consulting firm, the number of investment bankers, traders, researchers, and salespeople employed on Wall Street has dropped for the fourth consecutive year—down 15 percent since 2009. The main reason has been tighter regulations placed on banks after the 2008 financial crisis. The biggest sector of the industry hit is the bond business, where revenue has been cut in half since 2009 and was down 7 percent last year.