Wall St. Hiring in Anticipation of an Economic Recovery

Although this is tentatively good news the chart shows a systematic problem.  Look at the decade long job trends; Financials are about the same; Manufacturing is way down; and Construction is cyclical.  The job market will need workers with Financial degrees, jobs for lower skills are setup to take a ride until they leave the job market. 

The shift underscores the remarkable recovery of the biggest banks and brokerage firms since Washington rescued them in the fall of 2008, and follows the huge rebound in profits for members of the New York Stock Exchange, which totaled $61.4 billion in 2009, the most ever. Since employment bottomed out in February, New York securities firms have added nearly 2,000 jobs, a trend that is also playing out nationwide at financial companies, commodity contract traders and investment firms.

Though the figures are small in comparison to overall Wall Street employment, executives, economists and headhunters say they expect the growth to pick up steam in the coming months.