The News: More Sales For Bloomberg
That's Bloomberg the data vendor we're talking about - not Michael Bloomberg and his surprisingly close re-election Tuesday to a third term as mayor of New York. Net sales of Bloomberg terminals have been on the upswing since June, after holding in negative territory from November through at least March, according to BusinessInsider.
That's good news not just for Bloomberg LP - which continued to add headcount in the first half of this year even while cancellations were outpacing new sales - but for the financial industry as a whole. If we don't count users who switched from another data vendor, each new Bloomberg license reflects an additional market-facing job created in a sell-side or buy-side firm. The unofficial numbers cited by BusinessInsider paint a picture that's closer to the anecdotal evidence we've been hearing - bank layoffs largely concluded by mid-year, followed by green shoots in April and a noticeable hiring pickup starting in August - than to the U.S. Labor Department nonfarm payroll releases that show the securities industry continued shedding jobs this past summer, both nationwide and in New York City.
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