JMC Live

November 12, 2008

Rod Williams
Ext. 8583
rod.williams@lhh.com

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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…
Recap Of The NYC Job Market

Employment Trends & Hiring

Variables?!?!?!?

Q&A

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 NYC Job Market Recap
Unemployment:
Unemployment
• NYC remained at 5.8% over the month but up from 5.0% in 2007
• 5 Boroughs down to 5.7% over month from 5.9% and up from 5.0% in
2007

NYC (not all bad news but…)

• Overall Job Growth - Private Sector up 20,100 jobs (+0.6%) over month
• City’s private sector growth outpaced State (+0.2) & the Nation (-0.9)
• Other areas than financial services beginning to reel…

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 Job Growth…
Growth
Leisure & Hospitality (+8,400)
• Increase was centered in arts, entertainment, food services, and drinking places.
Trade, Transportation & Utilities (+6,800)
• Retail trade, especially clothing and clothing accessory stores.
Educational & Health Services (+5,700)
• Mostly seasonal gains at colleges, universities, and professional schools.
Information (+5,300)
• Gains due to motion pictures, sound recording and telecommunications
Professional & Business Services (+5,000)*
• Administrative and support services and employment services.
Other Services (+1,600)
• Religious, grant-making, civic, professional, and similar organizations, personal & laundry services
Natural Resources, Mining, and Construction (+1,400)
• Gains due to existing building projects and renewable energy projects
Government
• Large scale cutbacks looming…
Financial Activities (-9,000)
• Losses in finance, insurance, and in real estate and rental and leasing.
Manufacturing (-5,100)
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 Employment Market Outlook
STRONG FORECASTS
• Accounting/Auditing/Compliance (SOX), Risk Management
• Renewable Energy
• Healthcare & Education
• Staffing (Contracting) & Consulting
• Security
MODERATE OR MIXED FORECASTS
• Telecommunications – wireless vs. landline
• Entertainment/Media (Interactive & Non-traditional)
• Information (Movies & Sound vs. Print, Network TV & Radio)
• Insurance
• IT & IS
WEAK FORECASTS
• Real Estate & Mortgage Banking
• Commercial & Investment Banking & Securities
• Retail
• Consumer Products & Packaged Goods
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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:
• 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

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 Variables…
National Economic Outlook
National Economic Outlook
• Bailout, Recession, Inflation, Slowdown…
• Continued Real Estate pricing slide…
• Sub-prime Lending fallout continues (bank failures)…
• Volatile Markets (Stock & Oil) & Domestic Auto Industry
• Job Search competition
M&A and Investment
• Slowing (valuation, foreign investment)
• More consolidation (airlines, IT, financial services)
Technology Integration
• Vista, Leopard, Safari, Google
• LinkedIn, Naymz, Facebook, Fox Interactive (My Space)
• Ad revenue decline (Web)
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Economic Crisis Employment
Bottom Line...
“Patience is a virtue – Networking ”
‘Real Unemployment’ figures – NYC (9.9%),
Nation (11%)
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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 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

“JMC Live Special Events”:

• Employer of the Day – Capital One: Tue, 11/18 9A-12N (Park Ave)

• Fall Career Event: Tue, 11/25 9A-12N (Park Ave)

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 Special Guests
Welcome:
Marlene Rosenberg
Virtual Management Solutions

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