Wall Street Profits Soar Despite Accelerated Job Losses During Pandemic

The Wall Street sign is pictured at the New York Stock exchange (NYSE) in the Manhattan borough of New York City, on March 9, 2020. Carlo Allegri/Reuters

While Wall Street profits hit near-record highs in the first half of 2021, New York City’s securities companies continue losing jobs at an accelerated pace according to a report released on Thursday.

Wall Street profits surged in the first half of 2021 to $31 billion in pre-tax earnings beating an already outsized first half of the prior year profits by 12.5 percent and hit their highest level since 2009, said the report (pdf) by the office of New York State Comptroller Thomas DiNapoli.