Matthew Flamm of Crain’s New York Business reports that Bloomberg L.P. has added 3,400 jobs since 2008, making it New York’s fastest-growing employer.
“Also known as the Bloomberg Terminal, the platform provides data, analytics, portfolio management tools, electronic trading systems — and some 85% of the company’s nearly $7 billion in annual revenue. More than 300,000 subscribers pay around $1,700 a month for the service.
“Wall Street has added jobs in recent months, and the information-services sector that Bloomberg is part of has also seen gains. But nobody in New York is hiring like the Lexington Avenue colossus.
“‘That [amount of hiring] is pretty much unheard of,’ said Barbara Byrne Denham, chief economist for real estate services firm Eastern Consolidated. ‘[Bloomberg] can take risks because they have this cash cow — their terminals — which provides the capital they can invest in new industries.’
“Those new industries include Bloomberg Law, a vast legal research service that recently has hired hundreds of lawyers; Bloomberg Government, a Washington, D.C.-based service for regulatory and political news; and Bloomberg Sports, which offers the company’s expertise in data and analytics to fantasy baseball participants and Major League Baseball teams.”
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