By Joan Gralla 1 hour, 12 minutes ago NEW YORK (Reuters) - Wall Street earnings are "unlikely" to recover in the second half of this year meaning New York City's fiscal deficits could soar above the mayor's forecasts, the state comptroller warned on Monday.The securities industry, the New York's economic heart, lost 40,800 jobs in the last recession, but Mayor Michael Bloomberg's budget assumes it will only lose 25,000 jobs this time around, Comptroller Thomas DiNapoli said in a report.
That would only be a 13.4 percent decline from the sector's most recent peak in employment of around 188,000 employees working in banks and brokerages in September 2007.
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