U.S. unemployment rate hit the highest point in 22 years on Wall Street became the "Earthquake Central".

According to the U.S. Department of Labor Statistics has just released the May report, the U.S. unemployment rate hit the highest point since 1986, banking, aviation and transport industries are the hardest hit, and Wall Street has become a "Earthquake Central." .<P> Days prior to the afternoon group will now open, my phone vibrate up and ran out of the room looked at, calls the area code is 512. .I am very surprised, like no friends there ah. .One answer the phone, it was my friend in New York, Credit Suisse's former colleagues. .Three years ago, I jump from Credit Suisse, Banc of America Securities, Lehman Brothers, he jumped to the Department of electronic transactions, and his wife in the risk management department of Lehman Brothers. .He began to ask: "Guess Where?" I said: "512 it seems to be Texas, which city do not know the specific." He said: "Our family moved to Austin (Austin)." If he said that .China would not surprise me a bit down, he has been planning returnees in Shanghai, how suddenly ran out Austin? .<P> Had a month ago, he and his wife have received a "TownHall" (TUC) in the notice, the thought that a general summary of the General Assembly, who wants each of them received a "SeverancePackage" (severance payments, most of .children per year of service to 3 weeks salary), so that they pack up and leave. .I had to remind him, do not put two eggs in one basket, was I unfortunately, the couple also lost his job. .In the past, then get a job on the line, can be present everywhere in the downsizing of Wall Street, where find a suitable job so easy. .Just one of his old superiors in Austin a few years ago opened a securities company, let him past. .The couple reluctantly, I first went to say, we can not rest on its laurels it. .I consoled him: "blessing in disguise." He said: "I understand. We are good. And New York, in Austin, prices are too cheap. Wife not to work, raise children, burning cooking, every day I can have different .lunch, huh, huh. "his" Oh "sound like a bitter taste. .<P> Week ago, I received a call in New York another friend Lucy, she was in a Swiss bank management database, where he spent nearly 10 years, this work could have been the most stable, and basically sit back and relax with her .also laid off. .Since that work has been super stable, and she never thought would be laid off, and headhunters have lost touch, a sudden panic that she was caught off guard unemployment; middle of the night awakened mind and very clear, immediately from the fear and anger. .The cover letter sent to all go down the drain, they thought of changing jobs every few days, I hope I can introduce a few familiar search for her. .<P> To three days ago, I had worked for the Ministry of Banc of America Securities, France's largest bank BNP to be purchased, I connect to the e-mail a few old colleagues, they feel insecure, fear of being cut. .I had several similar experiences, they are asking my opinion. .Usually encounter this merger, the merged company will carry out a wave of layoffs. .Faction when the Wall Street boom of economic expansion, is more afraid Yeah, do not want to jump the Conference, the issue did not find a job. .The event of economic downturn, the company out without, "the street" will be a devastated to find a job easier said than done. .<P> 20 years on Wall Street this spring, the most difficult period. .As the subprime mortgage and credit transactions and atrophy, resulting in the loss of many jobs, including New York, London and Hong Kong. .Lucy I fully understand the feelings of losing their jobs, then the Wall Street headhunter friend Han Wu Jieshao to her. .Wu Han's father is a Vietnam veteran, his mother is Vietnamese, half the children of Asian descent who, to our Chinese people will be more intimate nature, I hope he can help to Lucy. .His reply to my e-mail actually expressed frustration: dry search so many years, never seen so many cover letters, hundreds of copies of resumes per day, eventually only 3 people can find a new job, compared to 2001's " .. com "bubble burst, and the" 9.11 "after every bad situation. .He can do nothing apart from that outside, but sent a list of layoffs on Wall Street: <P> "Banc of America Securities cut to around 4,000 jobs; Lehman Brothers laid off 1425 people, and is about to begin the next round of layoffs; .Merrill Lynch cut to 20% of staff, while the average wages minus 11%; Citigroup's securities to be laid off 6,000 people, of its capital markets and mergers and acquisitions department of employees 10%; JP Morgan Chase also did not .Because the acquisition of Bear Stearns in the storm spared the layoffs, there are at least 14,000 Bear Stearns employees will be laid off. even by sub-prime mortgages on Wall Street's Goldman Sachs also cut to the minimum 5% of the staff, and has begun .a hiring freeze. "<P> This confirms the" Wall Street Journal, "a story: this confirmed the" Wall Street Journal "story: the first half of this year, Wall Street 20% of staff lost their jobs, while in the second half, then .then lay off 15%; even fortunate enough to escape the robbery of the employees, their income will be substantially diminished, making Wall Street's "golden rice bowl" no longer exist, they rushed to find another way out other cities, like my friend move .Austin. .</ P> <P> Jingui these workers were once unemployed, facing tremendous psychological pressure. .A female psychiatrist in Manhattan, said the volatility of financial markets, leading to fluctuations in emotional world of people. .Over the past few months, her new patients mainly from Wall Street, her emotional response to these people described as "melancholy of depression", and their mental illness is entirely due to the lack of predictable. .May 28, 2008, "New York Times" published a report, the article said that unemployment is a blow to one of the greatest, when the termination letter arrived, worried that soon turned to anger, their self-worth suffer .a hit. .Consider also, a minute before or a large investment bank that East Road West, senior manager, a minute is not what has become a drifter, the psychological contrast between most people's ability to bear. .<P> Treatment of some of the major Wall Street's psychologists and researchers believe that, compared with the general public, the Wall Street finds it easier to anxiety and depression, "they had too much force", working 10 to 14 hours is not only expected .and is a sign of honor, and their self-worth fully reflected in wage check. .Banc of America Securities as I am a senior manager of John, in a normal year for years, his salary and bonus of about $ 600,000, including bonus 75% of their annual income, was fired three months ago, the only leader .20 months severance pay, life has undergone enormous changes immediately, as doing nothing, he can now only rely on every day at home to spend time cooking. .Makes the current layoffs on Wall Street feel insecure, investment bankers and fund managers are worried about being fired, so they focus on short-term investments in efficiency of injection, thus ignoring the long-term risk. .This vicious cycle continues if the situation would be worse to the prospect of Wall Street. .</ P>.