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New York City Job Market Update

Newsletter for LHH New York City office (Go to: November 12, 2008

In This Issue Special Note: “Employer of the Day – Capital One” will
• Job Market Intel be featured on Tuesday, November 18 from 9A-12N in
• Career Events the Park Avenue Conference Room. They will be recruiting
• Networking Events for positions throughout the financial services sector. Check
• JMC Job Search Tips the bulletin boards for a complete listing or go online at Don’t forget to register…
Also Included And stay tuned for the list of attending companies for the
• Useful Web Sites Fall Career Event –Tuesday, November 25 from 9A-12N…
• Media Resources
• Blue Steps Job Market Intel
• Network of Experts
Jobs Data Likely to Get Worse Before They Get Better
• Job Lead Sampler
The October employment report was an ugly moment in a bad downturn. But the numbers are going
• Just Thinking… to get far worse before the economy pulls out of its recession and starts creating jobs again.
The employment report adds to the likelihood that the current economic downturn will be the worst in
a quarter century. The October unemployment rate of 6.5% already broke through the 6.3% high
Get Your Copy reached in the aftermath of the 2001 recession. It’s the highest since March 1994, following a
NYC Job Market Update downturn that took the jobless rate as high as 7.8%. Now, numerous private-sector forecasts show
available online at: unemployment topping 8% by the end of next year. In the 1981-82 recession, unemployment reached 10.8% in November and December 1982, the highest since World War II. (Labor
C Access the latest and Department data stretch back to 1948.)
back editions. Copies are A decline in nonfarm payrolls of 240,000 in October was bad — the worst since November 2001, just
also available in the after the 9/11 terrorist attacks. But revisions to that figure in the coming months could make the
common areas and from current reading look much better in comparison. One of the more worrisome aspects of today’s
your consultants… If you report: signs that the labor market was declining substantially even before the worst of the credit
have information to crisis hit. The government revised September payrolls down to a net loss of 284,000 jobs, from the
submit, contact Rod 159,000 reported last month, and August also was lowered to show a loss of 127,000, from a 73,000
Williams at decline previously recorded. If conditions were that bad before October, they’re likely to be far worse
in the months to come as companies adjust to the new credit environment and consumers retrench or
with added pressure on housing and credit markets.
212.455.8583. Thanks in
advance! The monthly payroll declines in the current downturn are highly likely to surpass the drop of 325,000
in October 2001, the worst reading of that recession. The worst monthly payroll drop of the 1980-82
downturn came in May 1980, with a decline of 431,000. Of course, the cumulative declines are what
really matter. By that measure the 2008 job market is still bad — a loss of 1.2 million jobs in the first
CRN SpotLight 10 months of this year, approaching the loss of almost 1.8 million in the 12 months of 2001. But it’s
not as bad as the worst year for payrolls since World War II. In 1982 the economy lost 2.1 million
Check out the approximately jobs, though comparisons to that era are highly imperfect because the economy much larger today.
150,000 jobs on LeadLink
Today’s jobs report offers more evidence that the economy is in the midst of a downturn that will not
and don’t forget to keep your only be deeper than the recessions that ended in 1991 and 2001, but may approach, or perhaps
resume updated on Resume surpass, the severity of the long recession that ended in 1982.
Reserve. New employers
and recruiters are added and That’s a possibility that would put many Americans into unfamiliar territory. Of the 181 million people
in the U.S. last year that were 20 to 64 years old – roughly working age – only 42% were 20 or over
are searching daily.
in 1982. Arguably, a lot of people don’t know how they should respond to a severe downturn, since

Access both on the web at: they’ve never really experienced one. Maybe that’s not such an entirely bad thing. While individually people might be better off skimping
and saving, if everybody becomes miserly the economy enters the realm of what the economist John
Other Job Market Maynard Keynes called the paradox of thrift. That would make a bad recession even worse.
Connection Highlights… The road ahead to job creation will be a tough one. Payrolls continued declining for almost two years
after the end of the last recession in November 2001. Even when the numbers turn slightly positive,
New Feature: the credit environment will remain tough and leave employers cautious about hiring again before an
economic resurgence is clear.
“Hannibal’s Takes”
What’s unquestionable from the October employment report, with its earlier revisions, is that the
recession started well before the credit markets froze in September. The initially reported 0.3%
Job Fairs decline in third-quarter GDP will certainly be revised downward. And the economy in the final two
months of the year will not be pretty. –Sudeep Reddy and Justin Lahart
Employer of the Day
5 Recession-Proof Industries That Pay
“JMC Live” When the economy is down, you can still move up!
By Cherise Asato
Entertainment & Media With health care costs, food prices, and the unemployment rate on the rise, you need to do
everything you can to protect yourself - and your career - from the danger of recession.
Networking Group
Check out these 5 stable, growing industries. Many feature careers that pay $50,000 and more!
Recruiter Panels 1. EDUCATION
Education isn't just for kids. In fact, in 2003, the U.S. had over 75 million students of varying ages at
Special Topic Speakers all levels - from elementary school to college and beyond!
Having an impact on young minds and sharing your knowledge can be a rewarding, steady career.
Additionally we serve as You can get started on a teaching career with a 4-year college degree in teacher education. If
the venue for several you're already a teacher, you can prepare to advance to a principal position with a master's
external professional degree in educational leadership or educational administration.
networking groups
The Pay Off: Salaries for kindergarten, elementary, middle, and secondary school teachers average
including TENG (Tech about $47,000 to $52,000 a year.* Principals have an average annual salary that ranges from
Exec. Networking $40,000 to more than $80,000! Learn more about education and teaching programs
Group), MENG now.
(Marketing Exec.
Networking Group), and
FENG (Financial Exec. Now more than ever companies are being held responsible for their financial reporting. Add evolving
financial laws and regulations and the increasing number of businesses into the equation, and the
Networking Group) result is an in-demand, stable industry with a wealth of employment opportunities.

Get started on a recession-proof accounting career with a bachelor's or associate's degree in

accounting, and then broaden your opportunities and salary range with an accounting
master's degree. Or you can get your feet wet with an accounting diploma or accounting
Blue Steps
certificate program.

We have negotiated a 20% The Pay Off: The median annual salary for accountants and auditors in 2007 was $63,180.
discounted rate for LHH clients Another Plus: Accounting is a broad industry with many specialties. Want to work for the IRS?
with Blue Steps the executive Explore government accounting programs. Interested in investigating financial wrongdoing?
search web site owned and Try a forensic accounting program.
operated by the AESC
(Association of Executive
Search Consultants) which is It's no surprise that one of the most stable industries - even when the economy is in poor shape - is
their professional organization health care. No matter what the state of the country, there will always be people in need of quality
health care services.
made up of over 200 of the top
executive search firms. See Train to coordinate and plan the delivery of health care services with a health services
your consultant for details. administration or health care administration degree. Want to assist doctors and care
AESC has around 200 for the sick? Consider a nursing diploma or degree program. Or prepare for a supporting
member search firms, with role with a one-year dental assisting and short-term medical assisting programs.
around 4000 consultants
The Pay Off: Medical assistants make an average of $13.59 an hour - over $28,000 annually. Dental
around the world. assistants make an average of $15.52 an hour which can add up to about $32,000 annually.
Registered nurses averaged over $62,000 per year in 2007. Medical and health services managers
can make over $80,000 annually.
Constantly evolving technology means continued growth and stability for careers in the information
technology industry. Consider studying to become a computer systems analyst or computer software

To get started, you'll need at least a bachelor's degree in computer science, software
engineering, or a related field, like information security.
The Pay Off: Computer systems analysts can earn an average annual salary of $75,890. Computer
software engineers, who design, develop, test, and evaluate computer software and systems, earn
an average of $85,000 to $90,000 a year!
Following 9/11, national security became a top priority. Factor in a growing population and increased
concern for public safety, and you see an industry full of lucrative, stable careers.

Although you can join the police force with only a high school diploma, a degree in law
enforcement, criminal justice, public administration, or other industry-related
areas can help you get ahead in this line of work. To work as a probation officer, you'll need to start
with a bachelor's degree in social work or criminal justice.
The Pay Off: Police officers earn an estimated $50,670 a year. Detectives and criminal investigators
earn an estimated annual salary of $62,500. Probation officers have a median salary of $47,980.
Another Plus: With three years of full-time related work experience, and the right degree, you could
meet the criteria for employment as an FBI agent!
*All salary data from Bureau of Labor Statistics, U.S. Department of Labor

Networking Events (free/low cost events that may interest you)

NYC Senior Executive Roundtable
Wednesday, December 3, 2008, 8:30 - 11:00 AM
Where: 11 Penn Plaza
Seventh Avenue
5th Floor, Conference Room
New York City, NY
Cost: ExecuNet Members – $35.00
Guests – $40.00
Registration Deadline: Tuesday, December 2, 2008


The "C" Network

"Surviving Corporate America"; Tuesdays, 1 p.m.; people of various professions are brought together
to debate how to break through the elements for finding work; paid pre-registration required; call for
locations and further information.
Fees: $12
100 Park Avenue, New York, New York 10017
Sponsor information
The "C" Network
Contact:, 718/263-3501

JMC Job Search Tips (Simple Things pt 87…)

There aren’t any better times to network than during the holidays. People are more prone to want to
connect and in these uncertain times they need to connect. So take out your greeting card list early
this year and get busy. Where it makes sense, go visit. And where it doesn’t make sense – go visit.
Invite friends and former co-workers and bosses out to networking luncheons. Have resumes,
marketing plans and business cards at the ready. Catching up now is not only good for the spirit, it’s

good for the soul…

Just Thinking…
Character may be manifested in the great moments, but it is made in the small ones.

-- Phillips Brooks

Useful Web Sites

These could prove helpful (forward others to me at

***New business networking alternatives and competition to LinkedIn:

Naymz Maximize your professional opportunities by promoting your good
name in our Reputation Community.

Plaxo Pulse The easiest way to stay connected is now also the easiest way
to share just about anything. Pulse now brings you "people feeds" from all over the web: It's a new design, new navigation and a ton of new content. But most excitingly for
us, our site now includes something that so many of our members have asked for: a careers site!
Our careers area, WorldWIT's Hire Ground, is the first online recruiting site that reaches women 'at
the intersection of work and life' with job alerts in the daily WorldWIT email digests. Jobs are also
posted on the searchable WorldWIT's Hire Ground website bills itself as a portal for entry-level or a mid-management
positions. has got you covered. With our FastAPP feature we have made
searching for jobs faster and easier than ever. Simply complete an application and we’ll send it to
matching employers in your area. a site for those seeking opportunities in publishing, licensing, children’s &
family media, entertainment, interactive media, and related areas an excellent site that provides Free Job Search - over 100,000 Active Jobs!
Free Resume Distribution, Free GadBall Discussion Forums, Free Career Email Address, Free
Personal Email Address features links to For Sale Listings and many other types of information
portals from television/movie listings to the weather. It also has an online calendaring tool, news,
games, and entertainment links. bills itself as the leading financial services online job board bank jobs, finance jobs, recruitment in the financial markets,
accounting and investment banking another site that’s pretty cool. It bills itself as the following: craigslist is
about: giving each other a break, getting the word out about everyday, real-world stuff. restoring the
human voice to the Internet, in a humane, non-commercial environment. keeping things simple,
common-sense, down-to-earth, honest, very real. providing an alternative to impersonal, big-media
sites. being inclusive, giving a voice to the disenfranchised, democratizing ... being a collection of
communities with similar spirit, not a single monolithic entity. provides industry specific career channels with a wealth of
information tailored to your career goals. Select a career channel to research industry information,
search jobs and build your portfolio. Recruiting Trends reports that, an employment website
for Information Technology (IT) professionals and those who employ them, has launched a new web
site where IT professionals can discuss their careers, technology, current events, and more. The new
community called "The Community," also offers employers resume keyword
searches, and job seekers the ability to search for high tech jobs on a listing site that focuses on jobs in professional sports with teams,
offices, and connected entities (sports management, sporting goods, etc.). Here’s what they say
about themselves: 71% of the jobs posted here were filled by online candidates! currently has over 1,000 jobs posted in the following fields: Sports
Marketing, Sales, Advertising & Promotions, Public Relations, Sports Media, Broadcasting, Facilities,
Sports Events & Operations, Recreation, Health & Fitness, Website, Technology & Computers

4 a terrific informational resource for job seekers NY Labor Bureau site for IT employment (thanks Jay Colan) bills itself as “ launched in 2001 to assist BIG 4, Top Tier,
Software 500, Fortune 1000 IT job seekers most impacted during the downturn has grown to
286,000 members and is utilized by over 9,775 IT specific recruiters.” currently operates in CT, DC, DE, OH, MD, NY, NJ, PA, VA,
and WV , and provides a totally regional job search experience using our unique Latitude/Longitude

Free web sites continued… great search site that uses Google, Yahoo, Ask Jeeves, About, Look Smart,
Overture, and FindWhat (talk about powerful!) the name says it all. links to job postings:11 NJ newspapers incl. the Star-Ledger a site for Senior Executives lists executive Jobs lists non-profit executive level jobs lists non-profit executive level jobs lists Big Five Jobs claims currently over 3,000,000 jobs posted by
companies that use them and searched from over 300 major career sites along with jobs including 1-,, American Jobs, Infoworks USA, America's Employers, JobBank USA,
America's Job Bank, Job Pilot USA, Bakos Group,, Career Avenue,, Best Jobs USA, NationJob Network, Career Builder,, Career Mosaic,
Perot Systems,,, Career Magazine, Recruiters Online Network, Career
Web, Select,,,, The Job
Resource,, Top Echelon,,, Employment 911, US Careers
Resource Center,, Westech Virtual Job Fair. (Pay services not necessary). more tech jobs site helps you
find IT, creative, business and office/admin projects all on one website! &
us=164&AID=6944408&PID=1225587 2 sites for posting resumes and searching jobs
Fee Based Sites: Association of Executive Search Consultants (AESC) resume database.
LHH has a discounted rate (See your consultant) Based in New York City,, Inc. is a privately held company
offering premier online job search destinations and content for the $100k+ sector of the employment
market. The company operates its primary consumer destination at as well as
specialized job search Web sites for Sales, Marketing, Finance, Human Resources, Law,
Technology, Operations and all other $100k+ fields. For corporate and executive recruiters, operates TheLadders for Recruiters, enabling them to easily post and manage job
openings. lists executive jobs lists executive jobs lists executive jobs lists executive technical jobs a resume posting site
Entrepreneurial Sites: employment employment

5 lists tech ventures and employment online version of magazine funding for entrepreneurs venture capital info

Non-Profit Sites: non-profit info and employment non-profit info higher education info and employment national database of non profits
Executive Job Listings in the Not-for-Profit Sector Advertised openings: lists non-profit executive level jobs lists non-profit executive level jobs
Search firm listed openings:

Media Resources
Provided by Jay Colan and the generous, spirited people participating in the NY Media and Entertainment
networking group. Please update by sending additional resources/corrections to &
 -- Media Bistro: media industry networking and informational site.
Includes, news, advice, events listings, job boards, and discussion groups.
– daily round up of media and industry news; extensive links to
other, related publications and sites.
– Jim Romenesko’s media news: news, trends, extensive
links to other news and media related sites.
 -- Media Channel: global media news, issue guides,
educational aides.
 -- Media Week: online media news magazine.
 -- The Guardian online specialized media site.
– eWeek online version: media and new media news and resources
– Media news site, segmented by industry.
– Internews: promoting free and open media on a global scale.
– Broadband Week online version.
– career resources, etc.

 CATV Cyberlab: news, resources for cable, broadband, and new media;
extensive list of links.
– cable news, resources, extensive links.
– Electronic Media online version.
– DM News: online direct marketing news.
 comprehensive news site: news, extensive links
– Broadcasting Cable
online: news for broadcast and cable industries.
– Cableworld online version: cable and broadband news
—Min magazine: media business resources
 focus on "the economics of content"
 - interactive focus
 for designers and art directors
 - daily briefing for broadcasting and cable, with job postings for NY and LA
 Digital Music News (site/publication?)
 Inside Radio (site/publication?)
 Advertising Age site
 - Web Tips – tracks U.S. TV
 – v.c. focus?
 Variety - entertainment focus –including job links
 This Week in Technology
 British Academy of Film and Television Artists
 - digital music forum
 Int’l News on programming /content that inevitably includes notes on
many NY companies
 technology news with many notes on content deployments
 – conference listings are searchable to obtain contact info for speakers
 Multi-Channel News – publication?/site?
 – mobile media including wireless, IPTV and mobile media
 BillBoard – music publication

 Cable & Telecommunications Association for Marketing: library,
research, job bank, etc.
– National Cable & Telecommunications Association: industry
news, legislative information, career resources, etc.
– Cable and Telecommunications Human Resources
Association: job opportunities and career related links
– American Association of Advertising Agencies:
related industry links.
– New York New Media Association:
– Cabletelevision Advertising Bureau: news, research, links,
career information.
– Cable Television Public Affairs Association
– Women in Cable & Telecommunications: resources and links
dedicated to improving the standing of women in the cable industry.
 -- Association for Interactive Marketing: research, education,
events, networking.
 – association of business media companies
 – National Association of Minority Media Executives
 Magazine Publishers Association (MPA)
 Online Publishers Association (ironically I don’t have the URL)

theory and scholarship:

– CTheory: current scholarship on cultural, media, and critical theory
– media and social/cultural theory focusing on pop culture
– quick resources to major
leaders in mass communication studies
 – Esther Dyson publication on v.c. and new technologies
 Edventures – same on Ester Dyson

other resources:
 - Harvard Business School Club of Greater NY –
Look for the Media Guru breakfasts
 Media Staffing Professionals - Chicago based with jobs throughout the country
 "The Soul of the New Consumer" - book on thinking for marketers and product developers
 – resource on NPR?
 www.voice123 – voiceovers
 One World? – cable advertising?
 Promo magazine and Events Marketer for event marketing people


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Learn more and fill out a simple application at our website.

Job Lead Sampler (For many more check LeadLink)

VP Human Resources, Hauppage, NY, RockTenn, $150 - 180K +
Horseman's Acountant-Standardbred, Meadowlands, NJ, NJ
Sports & Exposition Authority, $30-35K
Website Coordinator, Meadowlands, NJ, NJ Sports & Exposition
Authority, $35-40K
Controller, Racing Accounting, Meadowlands, NJ, NJ Sports &
Exposition Authority, $80-95K
Associate Director-Pharmaceutical Product PR,Findley, OH, The
RightThing, Inc
Associate Director, Findley, OH, The RightThing, Inc.
Financial Analysts - Varied, Washington, DC, Congressional
Budget Ofc.
Recruitment Manager, Melville, NY, Newsday
Director-Strategy & Business Development, Kaplan Professional
Reliability Engineer, Interactive Data, White Plains, NY
Sr Quality Assurance, Interactive Data, White Plains, NY
Corporate Actions Analyst, Interactive Data
Sr Municipal Bond Evaluator, Interactive Data
Tech Svcs Specialist - Software Development, Interactive
Tech Svcs Specialist - User Interface Devel-New
Infrastructure, Interactive Data
Sr Quality Assurance Engineer-4050, Interactive Data
Sr Quality Assurance Engineer-4090, Interactive Data
Software Engineer-4041, Interactive Data
Evaluator-Interest Rate Swaps-4109, Interactive Data
Compliance Associate-3931, Interactive Data