Once again, Alan Johnson is going up against the CEBR. The CEBR suggested in May that bonuses in the City this year will fall 48% compared to 2011. Alan Johnson negated this with a favourable set of bonus predictions a few weeks later. Now he’s doing it again.
In truth, Alan and the Centre for Economics and Business Research (CEBR) aren’t necessarily fighting over the same ground. The CEBR is talking specifically about the City of London, where things appear to be particularly dire. Alan is talking specifically about Wall Street, where things don’t appear as bad. Bloomberg today cites a report from research company Oxford Economics suggesting that Wall Street will add 9,000 jobs this year. By comparison, the CEBR is predicting 25,000 job cuts for the City of London in 2012.
Nevertheless, London-based bankers may want to look at Johnson’s predictions for a bit of vicarious cheer – or as an incentive to attempt relocation across the Atlantic. Here they are in full.
Source: Johnson Associates