Page "Wall Street" Paragraph 57

Estimates vary about the number and quality of financial jobs in the city.

One estimate was that Wall Street firms employed close to 200, 000 persons in 2008.

Another estimate was that in 2007, the financial services industry which had a $ 70 billion profit became 22 percent of the city's revenue.

Another estimate ( in 2006 ) was that the financial services industry makes up 9 % of the city's work force and 31 % of the tax base.

An additional estimate ( 2007 ) from Steve Malanga of the Manhattan Institute was that the securities industry accounts for 4. 7 percent of the jobs in New York City but 20. 7 percent of its wages, and he estimated there were 175, 000 securities-industries jobs in New York ( both Wall Street area and midtown ) paying an average of $ 350, 000 annually.

Between 1995 and 2005, the sector grew at an annual rate of about 6. 6 % annually, a respectable rate, but that other financial centers were growing faster.

Another estimate ( 2008 ) was that Wall Street provided a fourth of all personal income earned in the city, and 10 % of New York City's tax revenue.