Trailing Spouses - Job Hunting
NYC’s real estate market moves along with Wall Street and, after property values plunged in the double digits, now is heading toward recovery. The commercial market appears to be improving as well, according to a recent report that stated Manhattan ground-floor retail asking rents are up 4 percent from spring levels, and Times Square rents jumped up 21 percent to an average $1,700 per square foot. Still, properties are renting below where they were during the market’s peak a few years ago, leaving room for additional growth.

AREA GROWTH
In October 2010, overall employment in NYC reached approximately 8.6 million with only 796,200 unemployed. Reflecting a significant improvement from the prior year, NYC lost 11,800 jobs or 0.1 percent of its workforce a year earlier in October 2009 compared to a loss of 320,100 jobs or nearly 4 percent of its workforce in the previous year. While the city’s unemployment rate in January 2010 skyrocketed to 10.9 percent, roughly 18 months later the rate has made its way down to a solid 8.9 percent, which is equivalent to the New York state rate. Many see this decrease as a positive sign toward the area’s employment growth:
  • Forbes ranked New York City the ninth Best U.S. City for Job Growth (Large-Sized) in 2011.
  • According to Moody’s Anayltics (www.economy.com), the city can expect a 0.5-percent increase of jobs by the end of 2011. The sectors expected to report the strongest percentage growth include other services (at an increase of 5.1 percent) and construction (at an increase of 2.6 percent) while jobs in natural resources and mining (at a loss of 2.5 percent) and government (at a loss of 2.4 percent) are predicted to fall the most.

STAFFING SERVICES
Many personnel and/or staffing services in the NYC offer full-time or temporary placement. Client companies pay the fee for most full-time personnel services. There are a few personnel services where the applicant pays the fee, so it is important to determine who is responsible for any fees before registering with a service.

According to The Wall Street Journal, NYC’s temporary-job market finally is growing thanks to a pickup in the final quarter of 2010. Economists and staffing firms say that the city appears prepared to add more temporary workers this year, particularly in the financial services, health care and manufacturing.

NYC's “temp” market peaked in January 2001 with 94,700 jobs, but by the end of 2007 there were only about 68,000 people working in temp jobs in the city. During the recession, the number of temp workers hit a low in April 2009 at 54,700. Last November there were 63,800 people employed in NYC temp jobs, which included 6,750 jobs added in 2010, most at the end of the year.

NYC temporary jobs are much in demand; therefore, they tend to be filled quickly. Many types of positions are available since most industries use temporary employees. Many temporary services specialize in specific types of jobs. Search online for companies in your neighborhood and call to find out what types of services they provide and if they have particular employment specialties. Numerous temporary jobs turn into full-time positions. In fact, many companies prefer to hire through the temp-to-hire process. It gives both the applicant and the company a trial period before the temporary employee converts to the company’s full-time payroll.

NETWORKING—VIRTUALLY AND IN PERSON
In this digital age, face-to-face networking seems to have fallen by the wayside, but studies indicate that more jobs are found through referrals than through online job searches. To network, jobseekers should contact everyone they know in their professional life. Jobseekers should be prepared to explain quickly about their skills and recent experience. Commonly referred to as the “15-second elevator speech,” being prepared with this speech can make a big difference. To learn more, visit www.15secondpitch.com, where you can discover ways to focus your thinking on what is most important.

Another useful online tool that has become essential to networkers and jobseekers is to join LinkedIn (www.linkedin.com), an online network of more than 25 million experienced professionals from around the world representing 150 industries. By staying “linked in” with your professional network, you’re always connected to people who may know of open positions or know of a contact at a company you might be interested in approaching. It’s about being more effective in your daily work and opening doors to opportunities by using the professional relationships you already have.

   
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Chapters
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