While Wall Street is starting to recover, finance cuts are panning out at nearby City Hall.
Mayor Michael Bloomberg announced plans this afternoon to ax 10,000 city workers, including 129 positions in the city's Finance Department. The Big Apple's finance team handle the city's property appraisals and taxes and a slew of more random duties including parking ticket collection and giving permits to street vendors. (Those who float bonds for the city generally work in places like the Industrial Development Agency and the New York City Municipal Water Finance Authority.)
Those unlucky enough to get pink slips will be entering a tight labor market. Though most of its big banks and brokerages are back in the black, 6.7% of New York finance workers are still out of work. And the state's comptroller predicted yesterday that another 7,000 Wall Street jobs will go missing before fallout from the recession has settled.
Cuts in the New York Finance Department would take effect next year, however, the agency still has almost 50 jobs listed on its Web site, including a call for two "senior pensions and investments analyst."
Meanwhile, the mayor has been promoting the city's nine career centers via a special edition of Marvel comic books. Those receiving pink slips may find some small comfort in the fact that Spider-Man is also looking for work.