JMC Live October 1, 2008 Rod Williams Ext. 8583
[email protected]
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Intro
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 Unemployment: Unemployment Recap
NYC increased over month to 5.8% from 5.0% and up from 5.3% in 2007 5 Boroughs up 5.9% over month from 5.4% and up from 5.3% in 2007
NYC (not all bad news…)
Overall Job Growth - Private Sector up 31,000 jobs (+1.0%) over month City’s private sector growth outpaced State (+0.4) & the Nation (+0.6) Several sectors not directly connected to financial services continue to experience job expansion
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Job Growth… Growth
Educational & Health Services (+11,400)
Trade, Transportation & Utilities (+10,600)
Large scale cutbacks looming…
Financial Activities (-5,300)
Administrative and support services and employment services.
Government
Religious, grant-making, civic, professional, and similar organizations, personal & laundry services
Professional & Business Services (+1,900)
Gains due to existing building projects and renewable energy projects
Other Services (+2,400)
Gains due to motion pictures, sound recording and telecommunications
Natural Resources, Mining, and Construction (+2,100)
Increase was centered in arts, entertainment, food services, and drinking places.
Information (+5,800)
Retail trade, especially clothing and clothing accessory stores.
Leisure & Hospitality (+8,800)
Mostly seasonal gains at colleges, universities, and professional schools.
Losses in finance, insurance, and in real estate and rental and leasing.
Manufacturing (-6,700)
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Employment Market STRONG FORECASTS Outlook
MODERATE OR MIXED FORECASTS
Accounting/Auditing/Compliance (SOX), Risk Management IT & Web services (Networking Staff, Application Developers, & Database Mgrs) – Vista Renewable Energy Healthcare & Education Staffing (Contracting) & Consulting Telecommunications – wireless vs. landline Entertainment/Media (Interactive & Non-traditional) Information (Movies & Sound vs. Print, Network TV & Radio) Insurance
WEAK FORECASTS
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Real Estate & Mortgage Banking Commercial & Investment Banking & Securities Retail Consumer Products & Packaged Goods LHH NYC
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NYC Hiring
(a diverse mix)
…
Interpublic Group (advertising 2010 Census contract $250-300M) Bronx Terminal Market (5K perm. & 2K constr.) 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 Steiner Studios (550 positions) Sivercup Studio ($1B complex) & Kaufman Astoria Studio ($20M) Hospitality: 50 new hotels over next 2 years (+12,000 rooms) Delta Airlines (major expansion @ JFK) Federal Express (100 positions)
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Flip Side of the Coin… Coin
Financial Services:
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Citigroup, JP Morgan Chase, Bank of America Morgan Stanley, Merrill Lynch, Goldman Sachs Credit Suisse, UBS, RBS AXA Insurance, AIG
Altria American Airlines Health Insurance Plan of Greater NY Bank of America Disney Publishing moving to White Plains Sony BMG L’Oreal Newsweek Time Warner Pfizer NBC Universal Avon MTV Networks LHH NYC
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Variables…
National Economic Outlook
M&A and Investment
Bailout, Recession, Inflation, Slowdown… Continued Real Estate pricing slide… Sub-prime Lending fallout continues… Volatile Markets (Oil) & Domestic Auto Industry Job Search competition Slowing (valuation, foreign investment) More consolidation (airlines, IT, financial services)
Technology Integration
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Vista, Leopard, Safari, Google LinkedIn, Naymz, Fox Interactive (My Space) Ad revenue decline (Web) LHH NYC
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Economic Crisis Employment
“Patience is a virtue” Bottom Line... ‘Real Unemployment’ figures – NYC (9.4%), Nation (10.3%), Unemployment is likely to grow 2-3% Credit restructuring likely… Government will become more involved… Reinvention will become new search motto
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Q & A…
Industries?
Occupations?
Functions?
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Hannibal’s Take…
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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
The Response Company
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Special Guests
Welcome:
Annette McLaughlin & Karina Shu The Response Company A professional recruiting and advisory services firm
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