Skip to comments.Job stream from Wall Street turning into a Florida flood
Posted on 12/10/2013 6:01:26 AM PST by SeekAndFind
The Big Apples fabled Wall Street district steadily is becoming more of a tourist hub than a financial hub.
New Yorks share of jobs in the securities industry dipped below 20 percent earlier this year to an all-time low, according to government statistics.
Moreover, jobs lost after the financial crisis are being replaced in the city at less than half the rate of the rest of the country. Two decades ago, New York had 30 percent of all such jobs.
(Excerpt) Read more at nypost.com ...
1) With high speed computers and telecommunication technology, you DON'T NEED TO BE PHYSICALLY IN WALL STREET.
2) You don't have to hire New Yorkers or PAY New York level salaries.
3) Many investment bankers, analysts and financial advisers can do their job ( and in fact are doing their work ) in places like Tampa and Jacksonville, Fla., and Salt Lake City.
4) Real estate prices are a fraction of Manhattans.
TO MAKE A LONG STORY SHORT -- HIGH COST CITIES ARE IN TROUBLE and have to compete with low cost cities.
It's quite similar to the jobs outsourcing theme people moan about -- albeit WITHIN the USA.
Boom City may soon go bust. Let’s see how the new mayor tackles this dilemma.
Apparently, NYC didn’t get the message when Limbaugh left.
“Boom City may soon go bust. Lets see how the new mayor tackles this dilemma.”
I’m sure he’ll tackle it head on with tax hikes and a flu shot mandate.
New York City might as well become a Disneyland playground.
After all, it’s governed by children and populated by fairies.
Or maybe everyone in NYC got the message when Limbaugh left and now they are following him (although they’ll never admit it).
How much longer before they're doing it in places like Mumbai, Mexico City, or Manila?
New York’s loss is America’s gain. And I say this as a former NY’er. Their easy wealth has made them arrogant. They are in for a very rude awakening under DeBlasio’s coming Marxism. When the dust settles, perhaps they will turn to their sense. If not, they will go the way of Chicago.
I grew up in NYC and love it - or I would, if it weren’t for its fruitcake leftist politicians and their insane policies - but there’s no way I’d live there now because the taxes are insane and the intrusiveness of the government is out of control.
I live near Jacksonville now, and it’s actually a very nice city. It’s had its growing pains and still has a horrible black ghetto occupying the headlines with a steady stream of killings, but most of the city is very nice and is near a good airport with easy access to everywhere. It has some new areas inhabited by mostly young people, and its older areas (Avondale, for example) are beautiful. The houses in these areas are expensive but worth it. An investment banker could afford a very nice one!
No state income tax, one-tenth the regulations of New York...hey, why not?
New York, New York, a helluva town..
The crime is up and employmnt is down.
Another leftist hole that people flee from. Then the leftist hole wants bailouts and the leftists themselves (like California) start invading other red states only to infect them with their leftists disease. And then the cycle repeats because leftists are too dumb to figure things out.
Maybe people are fleeing New York because they like FREEDOM and not have their guns confiscated by the Marxists.
RE: Lets see how the new mayor tackles this dilemma.
He already told us. HE WANTS TO SOLVE THE INCOME INEQUALITY PROBLEM.
Guess how a Democrat “solves” this problem... (See Detroit and other cities).
It’s not financial, but Rush moved his operation out of NY, and took his taxes with him.
>> Their easy wealth has made them arrogant.
and their corrupt wealth has made them, well, *corrupt*.
Hmmm... arrogant and corrupt... where ELSE do I see that lately...
"Who are you calling a fairy?!"
Ha, little boy blue
I’m sure DeBlasio will help turn that around.