JMC Live June 4, 2008 Rod Williams Ext. 8583
[email protected]
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Intro
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Job Market Consultant – Connecting you to work opportunities in real time (50% external networking activity) Corporate Recruiters Search Firms Professional Organizations A Real Time Interactive Job Market Update for NYC Metro Clients Added Value Job Market Intelligence
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Discussion…
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Recap Of The NYC Job Market
Employment Trends & Hiring
Variables?!?!?!?
Q&A
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NYC Job Market Recap
Unemployment: for NYC increased to 4.7% from 4.5% and down from 4.8% a year ago (5 Boroughs – 4.5%, 4.6%, & 4.5%) Job Growth Private Sector grew (+1.1%) 8,200 jobs Non-farm jobs up (+1.1%)
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Most Jobs Added…
Trade, Transportation & Utilities (+13,600)
Educational & Health Services (+7,700)
Gains centered in religious, grant-making, civic, professional, and similar organizations
Government
Gains due to existing building projects and the search for renewable energy sources
Other Services (+1,400)
Increased over the month with most gains in commercial real estate and rental and leasing.
Natural Resources, Mining, and Construction (+2,100)
Administrative and support services.
Financial Activities (+2,700)
Increase was centered in arts, entertainment, food services, and drinking places.
Professional & Business Services (+3,000)
Gains due to motion pictures, sound recording and telecommunications
Leisure & Hospitality (+5,200)
Mostly seasonal gains at colleges, universities, and professional schools.
Information (+7,700)
Increase reflected retail trade, especially building material and garden equipment stores.
Decreases primarily at the State level
Manufacturing (-7,900) 10/17/08
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Employment Market STR ONG FO REC ASTS Outlook Accounting/Auditing/Compliance (SOX)
IT & Web services (Networking Staff, Application Developers, & Database Mgrs) – Vista Renewable Energy Healthcare & Education Insurance
MOD ERA TE OR MIX ED FO REC AST S Telecommunications – wireless Entertainment/Media (Interactive & Non-traditional) Investment Banking & Securities WEA K FO REC AST S Real Estate & Mortgage Banking Retail Information (Print, Network TV & Radio)
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NYC Hiring
(a diverse
Interpublic Group (advertising 2010 Census contract $250-300M) mix)… Bronx Terminal Market (5K perm. & 2K constr.) Standard Chartered Bank (Doubling workforce: 120K in 3-4 yrs) Citigroup (1800 jobs in LI City complex) Turner Construction (Yankee Stadium 900 perm. & 3.6K constr.) IKEA (500 positions.) Nordstrom, Target, J.C. Penney, Kohl’s NYC Industrial Development Agency (Brooklyn & Queens – 6 companies = 150 positions) [DCD Marketing, Excellent Poly, Safe Art SAT & 3 woodworking cos.] Yeled V’Yalda Early Childhood Center (100 positions) LuluLemon Athletica (athletic clothing retailer 5 locations) Port Authority NY/NJ – 200 customer care jobs & 70 new airport stores Delta Airlines & American Airlines (major expansions @ JFK) Federal Express (100 positions) Steiner Studios (550 positions) Hospitality: 50 new hotels over next 2 years (Cooper Square, Vu, Thompson Smyth Tribeca, & Hotel Indigo for spring & summer ’08)…
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Flip Side of the Coin…
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Citigroup Altria JP Morgan Chase Nomura Securities Morgan Stanley Health Insurance Plan of Greater NY Bank of America Merrill Lynch Disney Publishing moving to White Plains Sony BMG Newsweek Time Warner Credit Suisse Pfizer AXA Insurance NBC Universal Avon Lehman Brothers MTV Networks LHH NYC
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Variables…
National Economic Outlook Recession, Inflation, Slowdown… Continued Real Estate pricing slide… Sub-prime Lending fallout continues… Volatile Markets (Oil) Domestic Auto Industry Job Search competition
M&A and Investment Slowing (valuation, hunting for bargains) More consolidation (airlines, IT, financial services)
Technology Integration Vista, Leopard, Safari, Google, LinkedIn, Naymz, Fox Ad revenue decline (Web)
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Q & A…
Industries?
Occupations?
Functions?
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Thank You…
Additional workplace topics… Keep reading the JMC Report online: http://www.esnips.com/web/LHHNYCJMC You can review today’s and previous JMC Live presentations online: http://www.esnips.com/web/LHHJMCLive I’m available via your Consultants… Fiscal Management Associates
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