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The number of Canadian securities industry jobs has dropped by 5 per cent since 2008.
The number of Canadian securities industry jobs has dropped by 5 per cent since 2008.
(FRED LUM/THE GLOBE AND MAIL)

Fewer deals, fewer deal makers: Brokerages face hard truths

Canada’s securities industry is shrinking, with jobs and firms disappearing at a pace that has taken the business back to 2010 levels.

Volatile markets, nervous investors and a lack of interest in Canada’s commodity producing companies have combined to cut the volume of transactions for investment dealers. Fewer deals need fewer deal makers. The result is that employment in the industry and the number of firms doing business have fallen to the lowest in at least three years.