Now isn’t a good time to be looking for jobs on Wall Street. If you have a Wall Street job, you’re probably worried about the status of your job. With the struggling economy of the United States, Wall Street has become a harder place to survive.

The main problem for Wall Street is people currently don’t have a lot of extra money for investment purposes. A few years ago, a family could dabble in the stock market and save money for a rainy day. Today, a lot of those same families have to spend every incoming penny just to stay afloat. To compound the affects of the struggling economy, rising energy costs and gas prices have put a pinch on a majority of families in the United States.

Wall Street related companies are making job cuts to try to make up for less business coming their way. This week Morgan Stanley got rid of 1,500 employees – most of the eliminated jobs were in the fields of asset management businesses, investment banking and trading.

Another company, Lehman Brothers, is expected to cut approximately 1,500 employees on Monday. After this latest round of cuts, Lehman Brothers would have eliminated about 6,500 jobs in the last year. Rumors also have JPMorgan Chase looking to make major job cuts.

If you are interested in working on Wall Street, you should wait until the economy turns around. Almost every economist believes that the economy will stabilize and recover at some point, which might even be in the not too distant future.

Tags: employment, jobs, jpmorgan, lehman brothers, morgan stanley, stock exchange, stocks, wall street, wall street jobs

This entry was posted on Saturday, May 17th, 2008
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