According to the
Wall Street Journal, only 5% of the jobs in New York City are in the financial sector - yet they account for roughly a quarter of the wages paid out by jobs here. Pretty scary to think what the budget numbers will look like when tens of thousands of jobs just disappeared into thin air along with Lehman and Merrill...and that's not counting Bear Stearns or the layoffs all across Wall Street that have already claimed somewhere around five digits' worth.
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