With everything that has been happening on Wall Street it is easy to think that the entire economy is failing. Fortunately, this is not true, and as reported in the article, Local Tech Firms Gain From Wall Street Pain, some industries are actually benefiting from the chaos. Prior to the credit crunch investment banks were the largest employers of technology professionals in the city. They had the upper hand when luring potential candidates; offering them bigger salaries and better benefits. While Wall Street has laid off over 20,000 workers in the last half of the year, the tech industry has added over 1,000 jobs and now has a new pool of workers to choose from. Although the economy is in an overall slump, revenue in the tech industry continues to grow, as does the need for additional staff.
More...