JMC Live

April 9, 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: for NYC decreased to
4.1% from 5.7% and down from 4.8% a
year ago (5 Boroughs – 4.4%, 6.1%, &
5.0%)
Job Growth

Private Sector grew (+1.4%) 13,800

Non-farm jobs up (+1.3%)

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 Most Jobs Added…
Trade, Transportation & Utilities (+12,800)

Increase reflected seasonal gains in seasonal utility demand and transportation support.
Educational & Health Services (+9,200)

Mostly seasonal gains at colleges, universities, and professional schools.
Leisure & Hospitality (+9,200)

Increase was centered in arts, entertainment, food services, and drinking places.
Financial Activities (+6,100)

Increased over the month with most gains in commercial real estate and rental and
leasing.
Natural Resources, Mining, and Construction (+4,600)

Gains due to existing building projects and the search for renewable energy sources
Information (+4,400)

Gains due to motion pictures and sound recording
Professional & Business Services (+3,400)

Increase was concentrated in professional, scientific and technical services, especially
accounting, tax preparation, bookkeeping and payroll services.
Government

Increases at public elementary and secondary schools, and public colleges and
universities after winter break, accounted for most of the government’s employment gain
Other Services (+2,100)

Gains centered in religious, grant-making, civic, professional, and similar organizations
Manufacturing (-6,900)
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Employment Market Outlook
STR ONG F ORECAS TS

Accounting/Auditing/Compliance (SOX)
 IT & Web services (Networking Staff, Application
Developers, & Database Mgrs) – Vista

Renewable Energy

Healthcare & Education

Insurance
MOD ER ATE OR MIXED F ORE CAST S
 Telecommunications – wireless

Entertainment/Media (Interactive & Non-traditional)

Investment Banking & Securities
WEA K F ORE CAST S

Real Estate & Mortgage Banking

Retail

Information (Print, Network TV & Radio)

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 NYC Hiring (a diverse mix)…
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…
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
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 Variables…
National Economic Outlook

Recession, Inflation, Slowdown…

Continued Real Estate pricing slide…

Sub-prime Lending fallout continues…

Volatile Markets
 Domestic Auto Industry
 Job Search competition
M&A and Investment
 Slowing (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…
Prudential

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