JMC Live

March 5, 2008
Rod Williams
Ext. 8583
rod.williams@lhh.com

10/17/08 LHH NYC 1

 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

10/17/08 LHH NYC 2

 Discussion…
 Recap Of The NYC Job Market

 Employment Trends & Hiring

 Variables?!?!?!?

Q &A

10/17/08 LHH NYC 3

 NYC Job Market Recap
 Unemployment: for NYC increased to
5.4% from 5.1% and increased from 4.4%
a year ago (5 Boroughs – 5.2%, 5.0%, &
4.0%)
 Job Growth
Private Sector grew (+1.4%)
Non-farm jobs up (+1.4%)

10/17/08 LHH NYC 4


Most Jobs Added…
Health & Education (+25,700)
 Gains in health care and social assistance offset seasonal losses in educational
services, which were centered in colleges, universities, and professional schools.
 Professional & Business Services (+22,400)
 Increase was concentrated in professional, scientific and technical services,
especially accounting, tax preparation, bookkeeping and payroll services.
 Leisure & Hospitality (+9,800)
 Increase was centered in arts, entertainment, and recreation.
 Financial Activities (+8,700)
 Increased over the month with most gains in real estate and rental and leasing.
 Trade, Transportation & Utilities (+8,500)
 Increase reflected seasonal gains in retail trade, particularly at clothing and clothing
accessories stores and general merchandise stores.
 Construction (+7,400)
 A seasonal decrease, especially in specialty trade contractors.
 Government (+6,300)
 Increases at public elementary and secondary schools, part of local government,
accounted for most of the government’s employment gain
 Other Services (+1,800)
 Information (-100)
 Manufacturing (-21,200)
10/17/08 LHH NYC 5
 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)

10/17/08 LHH NYC 6

 NYC Hiring (a diverse mix)…
 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.)
 Nordstrom, Target, J.C. Penney, Kohl’s
 NYC Industrial Development Agency (Brooklyn & Queens – 6 companies
= 150 positions)
 Interpublic Group (advertising 2010 Census contract $250-300M)
 LuluLemon Athletica (athletic clothing retailer 5 locations)
 ‘wichcraft (22 restaurants)
 Port Authority NY/NJ – 200 customer care jobs & 70 new airport stores
 ARES Printing & Packaging & Inland Paper Products
 Delta Airlines & American Airlines (major expansions @ JFK)
 Federal Express (100 positions)
 Steiner Studios (550 positions)
 Hospitality: 50 new hotels over next 2 years…

10/17/08 LHH NYC 7

 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
 Bear Stearns
 Time Warner
 Pfizer
 Victory Memorial Hospital
 NBC moving to NJ
 Avon
 Broadridge Financial
10/17/08 LHH NYC 8
 Variables…
 National Economic Outlook
 Possible Recession, Inflation, Slowdown…
 Continued Real Estate slide…
 Sub-prime Lending fallout continues…
 Volatile Markets
 Domestic Auto Industry
 Job Search competition
 M&A and Investment
 Slowing (hunting for bargains)
 Microsoft, Yahoo, & Google
 Technology Integration
 Vista, Leopard, Safari, Google, LinkedIn, Naymz, Fox
 Ad revenue decline (Web)
10/17/08 LHH NYC 9
 Q & A…
 Industries?

 Occupations?

 Functions?

10/17/08 LHH NYC 10

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…
 New York City Teaching Fellows

10/17/08 LHH NYC 11