Pasadena, California -- (SBWIRE) -- 09/24/2010 -- New York State lost about 4,400 jobs in the financial sector in August. But the number of people employed by financial firms went up in New York City.

The biggest job losses in the financial sector happened in the investment banking and brokerages services. These two sectors lost 7,800 jobs in the state during the past 12 months. Overall, employment in the financial sector was down from 678,100 in August 2009 to 673,700 in August 2010. The data is taken from the New York State Department of Labor.

In New York City, the financial services sector reported a modest job increase of 500 jobs in the past 12 months. The city now employs 433,200 people in financial services. The city seems to be showing signs of recovery at least in the financial sector.

“There may not be many jobs for entry-level professionals; but there are still thousands of jobs for more experienced professionals” says CEO A. Harrison Barnes of FinancialServicesCrossing. FinancialServicesCrossing is a job aggregator site that focuses only on jobs in the financial sector. The site has been able to find over 6,000 jobs in New York, with over 4,000 of them in New York City.