The Securities Industry in New York City, October 2024
Wall Street’s $23.2 billion in pretax profits for the first half of 2024 were a dramatic 79.3% increase over the same period last year and buoyed by securities trading, underwriting, and account supervision. The City's securities industry has the greatest number of jobs in the nation despite a decline this year. The industry also continues to contribute tax revenues at or above pre-pandemic levels, and its contribution should exceed tax forecasts if stronger-than-expected profits hold up.