Wall Street has lost 8,200 jobs since...

Wall Street has lost 8,200 jobs since October’s stock market crash and likely will shed another 18,000 workers by year’s end, New York University Professor Matthew P. Drennan said in an annual economic report. Drennan had forecast late last year that the securities industry in New York would lose 28,000 jobs by the end of 1988 because of the crash. Drennan revised his prediction to about 26,000 because trading volume on the New York Stock Exchange held up better than expected during the first quarter of 1988. “However, that support for employment is now crumbling,” he said. Market volume last month was 17% lower than in April, 1987 said Drennan, of NYU’s Urban Research Center.