Taxes, regulations and the denigration of the financial industry have consequences.

Job stream from Wall Street turning into a Florida flood

The Big Apple’s fabled Wall Street district steadily is becoming more of a tourist hub than a financial hub.

New York’s share of jobs in the securities industry dipped below 20 percent earlier this year to an all-time low, according to government statistics.

Moreover, jobs lost after the financial crisis are being replaced in the city at less than half the rate of the rest of the country. Two decades ago, New York had 30 percent of all such jobs.

The securities industry has recovered 54 percent of the jobs lost nationwide after the 2008 financial crisis, according to the US Bureau of Labor Statistics.

But Wall Street has recouped only 23 percent. The workforce has been hollowed out — 167,000 employed at securities firms, down from 191,000 in 2008.

“The numbers say there are a lot of Wall Street jobs that don’t need to be in New York,” Barbara Byrne Denham, an economist who tracks the local business scene, told Crain’s New York Business. “That has all sorts of implications for the city’s tax revenues.”

Facing regulatory changes and with the advent of new trading technologies, the banks that long ago transferred lower-level personnel out of New York have started moving up the corporate ladder to put higher-paid people — such as investment bankers, analysts and financial advisers — in places like Tampa and Jacksonville, Fla., and Salt Lake City.

What’s more, real estate prices are a fraction of Manhattan’s, and employees as a rule make much less than the $360,700 collected by the average New Yorker who works on Wall Street.