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JMC Live

October 1, 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 over month to 5.8% from 5.0% and up from 5.3% in 2007
 5 Boroughs up 5.9% over month from 5.4% and up from 5.3% in 2007

 NYC (not all bad news…)


 Overall Job Growth - Private Sector up 31,000 jobs (+1.0%) over month
 City’s private sector growth outpaced State (+0.4) & the Nation (+0.6)
 Several sectors not directly connected to financial services continue to
experience job expansion

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Job Growth…
Growth
 Educational & Health Services (+11,400)
 Mostly seasonal gains at colleges, universities, and professional schools.
 Trade, Transportation & Utilities (+10,600)
 Retail trade, especially clothing and clothing accessory stores.
 Leisure & Hospitality (+8,800)
 Increase was centered in arts, entertainment, food services, and drinking places.
 Information (+5,800)
 Gains due to motion pictures, sound recording and telecommunications
 Natural Resources, Mining, and Construction (+2,100)
 Gains due to existing building projects and renewable energy projects
 Other Services (+2,400)
 Religious, grant-making, civic, professional, and similar organizations, personal & laundry services
 Professional & Business Services (+1,900)
 Administrative and support services and employment services.
 Government
 Large scale cutbacks looming…
 Financial Activities (-5,300)
 Losses in finance, insurance, and in real estate and rental and leasing.
 Manufacturing (-6,700)

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Employment Market
Outlook
STRONG FORECASTS

 Accounting/Auditing/Compliance (SOX), Risk Management
 IT & Web services (Networking Staff, Application Developers, &
Database Mgrs) – Vista
 Renewable Energy
 Healthcare & Education
 Staffing (Contracting) & Consulting
 MODERATE OR MIXED FORECASTS
 Telecommunications – wireless vs. landline
 Entertainment/Media (Interactive & Non-traditional)
 Information (Movies & Sound vs. Print, Network TV & Radio)
 Insurance
 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
 Bailout, 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, foreign investment)
 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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Economic Crisis
Employment
 “Patience is a virtue”
Bottom Line...
 ‘Real Unemployment’ figures – NYC (9.4%),
Nation (10.3%),
 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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Hannibal’s Take…

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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

 The Response Company

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Special Guests
 Welcome:

Annette McLaughlin & Karina Shu

The Response Company


A professional recruiting and advisory
services firm

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