Things are better, but it's still not really that good

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Given the incredible popularity of the Morgan McKinley monthly employment monitor and our almost unblemished record of writing about it, it seems fair that we should add a small something on the subject at the end of the day.

Needless to say, things are looking up. As suggested by the Powerchex report we referenced earlier, there are certainly more jobs than there were a few months ago, but there are still many, many less jobs than there were last year.

Powerchex puts the decline in investment banking jobs at over 80% in Q209 compared to Q208. Morgan McKinley says City-based financial services jobs were down 58% in June 2009 compared to a year earlier.

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