NYC Snapshot Feb'2012

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Transcript of NYC Snapshot Feb'2012

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    NYCEconomic Overview

    Jim Brown

    Principal EconomistNYS Department of Labor

    [email protected]

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    NYC VS. US: PRIVATE SECTOR JOBS12-MONTH PERCENT CHANGE

    NYC

    US

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    NYC

    US

    UNEMPLOYMENT RATE: NYC VS. US

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    12-month average

    Monthly

    NYC REGULAR UNEMPLOYMENT BENEFICIARIES

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    NYC Unemployment Rates By Age GroupYear-Ending February 2012

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    NEW YORK CITY PART-TIME FOR ECONOMIC REASONSSHARE OF WORKFORCE, 12-MONTH AVERAGE, %

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    NEW YORK CITY UNEMPLOYED 52 WEEKS+SHARE OF UNEMPLOYED, 12-MONTH AVERAGE, %

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    New York City Labor Force byWorker Class, 2006-2010

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    Child Care Workers

    Taxi Drivers & Chauffeurs

    Maids & Housekeeping Cleaners

    Designers

    Construction Laborers

    Lawyers, and Judges, Magistrates, and other Judicial Workers

    Writers & Authors

    Artists and related workers

    Real estate brokers and sales agents

    Musicians, singers, and related workers

    Retail salespersons

    Photographers

    First-line supervisors/managers of retail sales workers

    Hairdressers, hairstylists, and cosmetologists

    Carpenters

    Miscellaneous Managers

    Other teachers and instructors

    Management analysts

    Painters - construction and maintenance

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    OCCUPATIONS WITH THE LARGEST NUMBEROF SELF-EMPLOYED

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    Limited Service Eating Places + 6,300 Accounting, Tax Prep., & Payrolls + 5,900

    Clothing & Accessory Stores + 5,700

    Securities & Commodities + 4,700

    Advertising & Related Services + 3,700

    Management, Sci. & Tech Consulting + 3,400

    Management of Companies + 3,100

    Individual & Family Social Services + 2,600

    Colleges, Univ., & Prof. Schools + 2,600

    Hospitals + 2,500

    Home Health Care Services + 2,400

    Computer Systems Design & Related + 2,400

    Food & Beverage Stores + 2,400

    Department Stores + 1,900

    Credit Intermediation & Related + 1,800

    INDUSTRIES ADDING THE MOST JOBS12-MONTHS ENDING FEBRUARY 2012

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    Change in Private Sector Jobs by Borough2011 vs. 2001

    NOTE: This graph refers to jobs located in a borough regardless of where the jobholder lives.

    Manhattan

    Bronx Brooklyn

    Queens

    Staten Island

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    NYC FINANCIAL ACTIVITIES JOBS1990-2012

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    NYC WALL STREET JOBS1990-2012

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    NYC PROFESSIONAL & BUSINESS SERVICES JOBS1990-2012

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    NYC EDUCATION & HEALTH CARE JOBS1990-2012

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    NYC LEISURE & HOSPITALITY JOBS1990-2012

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    NYC RETAIL TRADE JOBS1990-2012

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    NYC INFORMATION JOBS1990-2012

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    Job Title10-Year

    % GrowthMedianWage Training

    Network Systems & Data Communications Analysts 45.8 $83,990 Bachelor's degree

    Fitness Trainers & Aerobics Instructors 39.6 $60,450 Postsecondary vocational award

    Medical Scientists, Except Epidemiologists 28.8 $76,840 Doctoral degree

    Physical Therapist Assistants 25.2 $50,370 Associate degree

    Medical Equipment Repairers 24.0 $47,450 Associate degree

    Self-Enrichment Education Teachers 23.2 $46,920 Work experience in related occupation

    Financial Examiners 22.5 $90,760 Bachelor's degree

    Dental Hygienists 21.8 $78,770 Associate degree

    Agents and Business Managers of Artists, Performers, andAthletes

    21.6 $77,170Bachelor's or higher degree, plus work

    experience

    Occupational Therapist Assistants 21.0 $50,330 Associate degree

    Physician Assistants 20.2 $90,210 Master's degree

    Education Administrators, All Other 20.0 $92,340

    Bachelor's or higher degree, plus work

    experience

    Curators 20.0 $62,020 Master's degree

    Computer Software Engineers, Systems Software 19.3 $99,530 Bachelor's degree

    Massage Therapists 19.3 $53,650 Postsecondary vocational award

    Physical Therapists 19.1 $75,000 Masters Degree

    High Wage, High Growth Jobs

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    Job Title10-Year

    % GrowthMedianWage Training

    Medical & Public Health Social Workers 19.0 $53,510 Bachelor's degree

    Environmental Scientists and Specialists, Including Health 18.2 $73,320 Master's degree

    Pharmacists 16.0 $105,760 First professional degree

    Training & Development Specialists 15.4 $65,560 Bachelor's degree

    Veterinarians 15.2 $119,710 First professional degree

    Instructional Coordinators 15.0 $58,960 Master's degree

    Cardiovascular Technologists and Technicians 14.9 $49,510 Associate degree

    Computer Software Engineers, Applications 14.8 $96,340 Bachelor's degree

    Special Education Teachers, Preschool, Kindergarten, &Elementary School

    14.8 $73,520 Bachelor's degree

    Loan Counselors 14.3 $45,770 Bachelor's degree

    Environmental Engineers 14.3 $88,370 Bachelor's degree

    Radiation Therapists 14.3 $98,090 Associate degree

    Market Research Analysts 14.2 $69,010 Bachelor's degree

    Respiratory Therapists 14.0 $69,220 Associate degree

    Compensation, Benefits, & Job Analysis Specialists 13.7 $66,080 Bachelor's degree

    Public Relations Specialists 13.7 $65,710 Bachelor's degree

    High Wage, High Growth Jobs

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    Occupations That Pay Twice the Minimum Wage with Lower Educational Requirements

    Occupation Median

    WageHigh School

    or lessBiggest

    Industry#

    of FirmsIndustrial Truck and Tractor Operators $18.82 80.9%

    Warehousing & Storage; GroceryWholesalers

    158

    Carpet Installers $22.24 77.7% Home Furnishing Stores 727Tree Trimmers and Pruners $17.30 77.0% Landscaping Services 369Welders, Cutters, Solderers, and Braziers $17.09 75.2% Architectural & Structural Metals 235Automotive Body and Related Repairers $15.14 75.0% Auto Repair & Maintenance Shops 2,437Cabinetmakers and Bench Carpenters $15.03 73.4% Household & Institutional Furniture Mfg 356Upholsterers $18.67 73.3% Reupholstery & Furniture Repair 164Truck Drivers, Heavy and Tractor-Trailer $22.09 71.7% General Freight Trucking 739Glaziers $17.12 69.7% Glass & Glazing Contractors 114Home Appliance Repairers $15.74 64.3% Electronics & Appliance Stores 1,387Locksmiths and Safe Repairers $24.29 62.4% Locksmiths 182Bus Drivers, School $18.22 61.4% School & Employee Bus Transportation 156Pest Control Workers $18.16 52.2% Exterminating & Pest Control Services 208Security and Fire Alarm Installers $21.70 48.3% Investigation & Security Services 875Bill and Account Collectors $19.04 45.9% Collection Agencies 88