Jmc Live June 3, 2009

JMC Live June 3, 2009 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…  Recap

Of The NYC Job Market

 Employment

Trends & Hiring

 Variables?!?!?!? Q

&A

 Guest

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Presentation

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NYC Job Market Recap 

Unemployment: Unemployment  NYC

slipped to 8.0% from 8.1% the previous month but still up from 4.9% the previous year  5 Boroughs down to 7.8% from 8.2% over the previous month up from 4.4% last year 

NYC (not all bad news…)  Pending

home sales increased 6.7%…  Banking bounce has a number of banks seeking to pay back TARP funding ahead of schedule…  NYC job losses -2.9% vs. -4.3% national…

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Job Growth… Growth 

Educational & Health Services (+16,200) 

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Other Services (+2,300) 

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Decrease was across arts, entertainment, food services, and drinking places.

Government (-2,000) 

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Seasonal losses and delayed or cancelled projects

Leisure & Hospitality (-11, 300) 

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Losses concentrated in retail trade, especially clothing and clothing accessory stores.

Manufacturing (-14,400) Natural Resources, Mining, and Construction (-12,000) 

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Losses in administrative and support services and employment services.

Trade, Transportation & Utilities (-21,000) 

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Employment losses in financial activities were largest in finance and insurance, especially securities, commodity contracts, and related activities.

Professional & Business Services (-25,600) 

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Religious, grant-making, civic, professional, and similar organizations, automotive repair & maintenance.

Financial Activities (-26,200) 

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Mostly gains at colleges, universities, and professional schools.

Significant growth at the federal level didn’t completely offset local level layoffs.

Information (-1,600) 

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Losses in motion picture & sound recording. LHH NYC

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Employment Market Outlook 

STRONG FORECASTS    

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MODERATE OR MIXED FORECASTS     

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Accounting/Auditing/Compliance (SOX), Risk Management Healthcare & Education Renewable Energy & Construction Security (Cyber, Physical, Economic, & Political) Telecommunications – wireless vs. landline Entertainment/Media (interactive & non-traditional) Insurance (Conglomerates vs. Straight Line) IT & IS Staffing (Contracting) & Consulting

WEAK FORECASTS     

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Real Estate & Mortgage Banking Financial Services: Banking & Securities Consumer Products & Packaged Goods Information (movies & sound vs. print, network TV & Radio) Retail

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

Interpublic Group (2010 Census contract $250-300M) General Growth Properties $700M 1.7M Sq. ft mixed use project Bronx Terminal Market (5K perm. & 2K constr.) Turner Construction (Yankee Stadium 900 perm. & 3.6K constr.) IKEA (500 positions.) Industrial & Commercial Bank of China Wal-mart relocating apparel buying and planning group Costco, BJ’s, Nordstrom, Target, J.C. Penney, Kohl’s, Whole Foods, Pomegranate, Food Cellars Rock-n-Roll Hall of Fame Annex Touro School of Pharmacy Steiner Studios (550 positions) Sivercup Studio ($1B complex) & Kaufman Astoria Studio ($20M expansion) Hospitality: 50 new hotels over next 2 years (+12,000 rooms)

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Flip Side of the Coin… Coin 

Financial Services: UBS, American Express, Citigroup, JP Morgan Chase  Bank of America, Morgan Stanley, Merrill Lynch  Goldman Sachs, Credit Suisse, RBS, Deutsche Bank  AXA Insurance, AIG, American Stock Exchange 

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National Football League McGraw-Hill & Rodale Publishing & Newsweek General Growth Properties Bloomberg American Airlines & ATA Airlines Sony BMG Avon & L’Oreal American Stock Exchange & NYSE Euronext Ultra Stores Time Warner & MTV Networks Pfizer JW Seligman LHH NYC

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Variables… 

National Economic Outlook 

Stimulus Bill & TARP (Troubled Assets Relief Program) 

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Continued Real Estate pricing slide…  

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Sub-prime Lending fallout continues Troubled bank list grew to 305 from 211 in 3 months)…

Domestic Auto Industry Crisis Job Search competition increasing

M&A and Investment  

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Recession, Bailout, Inflation, Slowdown…

Slowed (valuation, foreign investment) More consolidation (auto, airlines, IT, financial services)

Technology Integration   

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Market forces slowing investment & profit LinkedIn, Naymz, Facebook, Fox Interactive (My Space) Ad revenue decline (Web) LHH NYC

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Recession Employment Bottom Line... 

Unemployment is likely to grow 2-3%

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Bounce may happen in 4th Quarter

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Executive search down 35%

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Outstanding vs. Good…

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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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Special Guest… 

Welcome:

Matt Russo Northwestern Mutual Financial Network

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