JMC Live September 2, 2009

Rod Williams Ext. 8583 rod.williams@lhh.com

12/03/09

LHH NYC

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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 Trends & Hiring

 Employment

 Variables?!?!?!? Q

&A Services Volunteer Corps

 Financial

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NYC Job Market Recap

Unemployment: Unemployment
 NYC

increased to 9.6% from 9.4% the previous month and up from 5.4% the previous year  5 Boroughs climbed to 9.8% from 9.3% over the previous month up from 5.7% last year

NYC (not all bad news…)
 Financial

Services continues to inch closer to recovery…  The market has experienced some stability…

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Job Growth… Growth
  

Government (+28,100)
  

Summer youth jobs. Mostly gains at colleges, universities, and professional schools. Religious, grant-making, civic, professional, and similar organizations, automotive repair & maintenance. Increase across arts, entertainment, food services, and drinking places. Employment losses in financial activities were largest in finance and insurance, especially securities, commodity contracts, and related activities. Losses concentrated in retail trade, especially clothing and clothing accessory stores. Losses in administrative and support services and employment services.

Educational & Health Services (+25,500) Other Services (+2,700) Leisure & Hospitality (+600)

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Financial Activities (-37,400)

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Trade, Transportation & Utilities (-29,000)
 

Professional & Business Services (-28,900) Manufacturing (-12,600) Natural Resources, Mining, and Construction (-9,800)
 

Seasonal losses and delayed or cancelled projects Losses in motion picture & sound recording.
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Information (-4,300)
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Employment Market Outlook

STRONG FORECASTS
   

Accounting/Auditing/Compliance (SOX), Risk Management Healthcare & Education Renewable Energy & Construction Security (Cyber, Physical, Economic, & Political) Telecommunications – wireless vs. landline Entertainment/Media (interactive & non-traditional) Insurance (Conglomerates vs. Straight Line) IT & IS Staffing (Contracting) & Consulting Real Estate & Mortgage Banking Financial Services: Banking & Securities Consumer Products & Packaged Goods Information (movies & sound vs. print, network TV & Radio) Retail
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MODERATE OR MIXED FORECASTS
    

WEAK FORECASTS
    

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NYC Hiring (a diverse mix)…
            

Interpublic Group (2010 Census contract $250-300M) General Growth Properties $700M 1.7M Sq. ft mixed use project Marcum & Kliegman Accounting firm (800 positions) IKEA (500 positions.) Industrial & Commercial Bank of China Wal-mart relocating apparel buying and planning group Retailers: Costco, BJ’s, Nordstrom, Target, J.C. Penney, Kohl’s, Supermarkets: Whole Foods, Pomegranate, Food Cellars Rock-n-Roll Hall of Fame Annex Elizabeth A Connelly Emergency & Trauma Center Steiner Studios (550 positions) Sivercup Studio ($1B complex) & Kaufman Astoria Studio ($20M expansion) Hospitality: 50 new hotels over next 2 years (+12,000 rooms) including Hyatt (2 properties)
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Flip Side of the Coin… Coin

Financial Services:
UBS, American Express, Citigroup, JP Morgan Chase  Bank of America, Morgan Stanley, Merrill Lynch  Goldman Sachs, Credit Suisse, RBS, Deutsche Bank  AXA Insurance, AIG, American Stock Exchange

            
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National Football League McGraw-Hill & Rodale Publishing & Newsweek General Growth Properties, Coldwell Banker Hunt Kennedy, DTZ Rockwood Bloomberg American Airlines & ATA Airlines Balducci’s Weisman Discount Home Centers American Stock Exchange & NYSE Euronext Filene’s Basement, Oilily, Ultra Stores, Door Store, Finlay Enterprises Time Warner & MTV Networks Salvation Army* JW Seligman WolfBlock LLP
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Variables…

National Economic Outlook
 

Stimulus Bill & TARP (Troubled Assets Relief Program)

Recession, Bailout, Inflation, Slowdown… Sub-prime Lending fallout continues Troubled bank list grew to 416 from 305 in a month)…

Continued Real Estate pricing slide…
 

 

Domestic Auto Industry Crisis Job Search competition increasing Slowed (valuation, foreign investment) More consolidation (auto, airlines, IT, financial services) Market forces slowing investment & profit LinkedIn, Naymz, Facebook, Fox Interactive (My Space) Ad revenue decline (Web)
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M&A and Investment
 

Technology Integration
  

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Recovering Economy Employment
Bottom Line...

Unemployment will continue to increase Mid-tier firms are continuing to grow Executive search down 35% Outstanding vs. Good…

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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

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Special Guest…
Myla Yee Financial Services Volunteer Corps

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