JMC Live

August 6,
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 increased to 5.4% from 5.2% and
up from 5.2% 2007 (5 Boroughs – 5.3%, 4.8%, &
5.0%)
 Job Growth
 Private Sector grew (+0.6%)
 Non-farm jobs up (+0.6%)
 The City (not all the news is bad…)
 Over-the-year private sector growth rate (+0.6
percent) exceeded the comparable rate for the state
(+0.2 percent) and the nation (-0.4 percent). For the
latest three months, New York City’s private sector
employment averaged 3,217,900, a gain of 0.9 percent
from the same period a year ago.

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 Most Jobs Added…
Added
 Trade, Transportation & Utilities (+7,900)
 Increase reflected retail trade, especially building material and garden equipment stores.
 Educational & Health Services (+7,600)
 Mostly seasonal gains at colleges, universities, and professional schools.
 Information (+6,200)
 Gains due to motion pictures, sound recording and telecommunications
 Leisure & Hospitality (+4,600)
 Increase was centered in arts, entertainment, food services, and drinking places.
 Natural Resources, Mining, and Construction (+2,100)
 Gains due to existing building projects and the search for renewable energy sources
 Professional & Business Services (+1,400)
 Administrative and support services buildings, dwellings, and employment services.
 Other Services (+1,000)
 Religious, grant-making, civic, professional, and similar organizations, personal & laundry
services
 Government
 Large scale cutbacks looming…
 Financial Activities (-2,000)
 Increased over the month with most gains in commercial real estate and rental and leasing.
 Manufacturing (-8,100)

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Employment Market
Outlook
 STR ONG FO REC ASTS
 Accounting/Auditing/Compliance (SOX), Risk
Management
 IT & Web services (Networking Staff, Application
Developers, & Database Mgrs) – Vista
 Renewable Energy
 Healthcare & Education
 Insurance
 MOD ERATE OR MIX ED FO REC AST S
 Telecommunications – wireless vs. landline
 Entertainment/Media (Interactive & Non-traditional)
 Investment Banking & Securities
 Information (Movies & Sound vs. Print, Network TV &
Radio)
 WEAK F OR ECAS TS
 Real Estate & Mortgage Banking
 Retail

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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)
 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
 Wachovia & Bank of America
 Altria
 JP Morgan Chase
 American Airlines
 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
National Economic Outlook
 Recession, Inflation, Slowdown…
 Continued Real Estate pricing slide…
 Sub-prime Lending fallout continues…
 Volatile Markets (Oil) & Domestic Auto Industry
 Job Search competition
 M&A and Investment
 Slowing (valuation, hunting for bargains)
 More consolidation (airlines, IT, financial
services)
 Technology Integration
 Vista, Leopard, Safari, Google
 LinkedIn, Naymz, Fox Interactive (My Space)
 Ad revenue decline (Web)
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Bottom Line on
Recessionary
Employment...
 “Patience is a virtue”
 Unemployment is likely to grow by 2-3%
 No strategic absolute effect on
companies…
 Some heavily involved with banks will be more
vulnerable
 Some will see the market as more “affordable”
 All will be more cautious
 Government will likely become involved…

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Search Strategies
 Differentiate, Differentiate, Differentiate
 Network, Network, Network
 Research, Research, Research
 Check and re-check your plan regularly
 Re-invention is the foster child of…

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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

 efinancialcareers.com

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