Jmc Live 7-08 Pres

JMC Live July 9, 2008 Rod Williams Ext. 8583 [email protected]

10/17/08

LHH NYC

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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 LHH NYC

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Discussion…  Recap

Of The NYC Job Market

 Employment

Trends & Hiring

 Variables?!?!?!? Q

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&A LHH NYC

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NYC Job Market Recap  

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Unemployment: Unemployment NYC increased to 5.2% from 4.7% and up from 5.1% 2007 (5 Boroughs – 4.8%, 4.5%, & 4.7%) Job Growth  Private Sector grew (+1.0%)  Non-farm jobs up (+1.0%) Recession???  In macroeconomics , a recession is a decline in a country's gross domestic product (GDP), or negative real economic growth , for two or more successive quarters of a year.  It feels like a recession when GDP growth slows, businesses stop expanding, employment falls, unemployment rises, and housing prices decline.

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Most Jobs Added… Added

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Trade, Transportation & Utilities (+9,800) 

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Educational & Health Services (+9,100) 

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religious, grant-making, civic, professional, and similar organizations, personal & laundry services

Government 

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Gains due to existing building projects and the search for renewable energy sources

Other Services 

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Administrative and support services buildings, dwellings, and employment services.

Natural Resources, Mining, and Construction (+2,400) 

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Increased over the month with most gains in commercial real estate and rental and leasing.

Professional & Business Services (+2,400) 

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Increase was centered in arts, entertainment, food services, and drinking places.

Financial Activities (+2,500) 

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Gains due to motion pictures, sound recording and telecommunications

Leisure & Hospitality (+5,300) 

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Mostly seasonal gains at colleges, universities, and professional schools.

Information (+7,00) 

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Increase reflected retail trade, especially building material and garden equipment stores.

End of year school decreases

Manufacturing (-8,400)

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Employment Market Outlook 

STRO NG FORE CA STS     

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MOD ERAT E OR MIX ED FORE CAS TS    

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Accounting/Auditing/Compliance (SOX), Risk Managment IT & Web services (Networking Staff, Application Developers, & Database Mgrs) – Vista Renewable Energy Healthcare & Education Insurance Telecommunications – wireless Entertainment/Media (Interactive & Non-traditional) Investment Banking & Securities Information (Movies & Sound vs. Print, Network TV & Radio)

WEAK F ORE CAST S  Real Estate & Mortgage Banking  Retail

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NYC Hiring (a diverse mix)…        

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Interpublic Group (advertising 2010 Census contract $250-300M) 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… Coin                   10/17/08

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     

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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) 

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Technology Integration Vista, Leopard, Safari, Google, LinkedIn, Naymz, Fox  Ad revenue decline (Web) 

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Bottom Line on Recessionary Employment... “Patience is a virtue”  Unemployment is likely to grow by 2-3%  No strategic absolute effect on companies… 

 Some

heavily involved with banks will be more vulnerable  Some will see the market as more “affordable”  All will be more cautious 

Government will likely become involved…

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Search Strategies 

Differentiate, Differentiate, Differentiate

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Network, Network, Network

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Research, Research, Research

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Use Online Networking Tools

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Check and re-check your plan

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Q & A… 

Industries?

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Occupations?

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Functions?

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Thank You… 

Additional workplace topics…

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Keep reading the JMC Report online: http://www.esnips.com/web/LHHNYCJMC

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You can review today’s and previous JMC Live presentations online: http://www.esnips.com/web/LHHJMCLive

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Met Life (Cross Event)…

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