The Lookout
  • Wall Street pay hits new record

    Wall StreetFor most Americans, wage growth has been sluggish, to say the least, ever since the Great Recession began in late 2007. But that's not the case for Wall Street, the sector that helped cause the downturn. In fact, it looks like for the financial industry, the good times are well and truly back.

    Less than two years after a massive government bailout, total Wall Street compensation hit a new record of $135 billion, according to a Wall Street Journal analysis. The rise is in part the result of increased revenue, which also spiked to a record high of $417 billion.

    The average Wall Streeter is now paid $141,000 -- up 3 percent from last year. And the heavy hitters seem to be doing very well indeed. For example, Bank of America CEO Brian Moynihan saw a 67 percent rise in his total compensation last year. "Things are shifting back to where they were before," one expert on compensation told the Journal.

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  • Private sector job growth exceeds expectations

    workersThe private sector added 187,000 jobs in January -- about 44,000 more than analysts had expected.

    The news, which comes from a survey conducted by payroll company Automatic Data Processing Inc. (ADP), may slightly boost hopes for the government's January jobs report, to be released Friday. Nonetheless, that survey, which includes both private and public sector jobs, is still expected to show a slight rise in joblessness, from 9.4 percent in December to 9.5 percent in January.

    The ADP report found: "The recent pattern of rising employment gains since the middle of last year appears to be intact, as the average gain over December and January (217,000) is well above the average gain over the prior six months (52,000)."

    (Photo: AP/Steve Sheppard)

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  • AP09091108671

    Three Qatari men who helped carry out the 9-11 attacks are still on the loose, according to the U.K. Telegraph.

    The men scouted the World Trade Center, the Pentagon and the White House before the attacks, according to new documents released via WikiLeaks-released. A fourth man from the United Arab Emirates is also wanted for questioning regarding his alleged role in the attacks, according to the 2010 documents sent between the American Embassy in Doha and the Department of Homeland Security.

    Only one person has been tried and convicted in the attacks: French citizen Zacarias Moussaoui.

    (World Trade Center construction site in 2009.)


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