NYC Comptroller expects 165,000 jobs to go
William C Thompson, Jr. says that he expects far more job losses than originally forecast.
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William C Thompson, Jr. Comptroller NYC told CNBC's Squawk Box today that forecasts in July 2008 of 65,000 job losses was very wide of the mark and that he expects 165k jobs in New York City over next two years, with 35,000 of them in Wall Street.
He expects to see tax revenues fall by some USD2.6 milliard but says that the City has already cut services as far as possible without risking the decline of the city to the point where people start to leave.
Even so, the NYC PD says that it expects to reduce headcount by 1,000 officers and the education department says it will see USD285 million cut from its budget
The credit crunch cost me my job
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