As per Sep 2 2012 report by Fiscal Policy Institute, below is a summary of current employment conditions in NYS and NYC area
■ Around the state: Over the past year job growth has slowed in NYC while it has picked up in several upstate metro areas.
>>> IIT's observation: Certain professions, like Information Technology, continue to remain strong both in NYC and upstate areas. Employers in healthcare sectors continue to add to their teams, thanks to major initiatives like EHR / EMR.
■ Unemployment in New York State has been around eight percent or higher for the past three and a half years, the longest stretch since the mid-1970s.
>>> IIT's observation: Certain professions, like Information Technology, have seen an uptick in hiring, salaries and rates, beginning in 2011, and continuing slowly into 2012. But major IT employers in NYC area like investment banks have seen a downward trend in compensation awarded to employees and contractors. Candidates with 'hands-on' technical skills seem to fare better than mid and senior management staff.
■ The average duration of unemployment is currently nine months.
>>> IIT's observation: Hands-on professionals in Information Technology with average or above average skills should expect this period to be significantly less.
■ Compared to the nation: New York’s payroll job growth has been slightly better than or even with
national job growth. This modest job growth has been concentrated among low-wage industries.
>>> IIT's observation: We agree. With various tax incentives being offered to large companies to boost manufacturing and siminlar activities in upstate NY, employment growth is stronger in blue-collar / upstate NY markets.
■ New York’s job growth in the recovery has been the 13th highest among all the states, yet no state had a higher reported increase in unemployment over the past two years.
■ Around the state: Over the past year job growth has slowed in NYC while it has picked up in several upstate metro areas.
>>> IIT's observation: Certain professions, like Information Technology, continue to remain strong both in NYC and upstate areas. Employers in healthcare sectors continue to add to their teams, thanks to major initiatives like EHR / EMR.
■ Unemployment in New York State has been around eight percent or higher for the past three and a half years, the longest stretch since the mid-1970s.
>>> IIT's observation: Certain professions, like Information Technology, have seen an uptick in hiring, salaries and rates, beginning in 2011, and continuing slowly into 2012. But major IT employers in NYC area like investment banks have seen a downward trend in compensation awarded to employees and contractors. Candidates with 'hands-on' technical skills seem to fare better than mid and senior management staff.
■ The average duration of unemployment is currently nine months.
>>> IIT's observation: Hands-on professionals in Information Technology with average or above average skills should expect this period to be significantly less.
■ Compared to the nation: New York’s payroll job growth has been slightly better than or even with
national job growth. This modest job growth has been concentrated among low-wage industries.
>>> IIT's observation: We agree. With various tax incentives being offered to large companies to boost manufacturing and siminlar activities in upstate NY, employment growth is stronger in blue-collar / upstate NY markets.
■ New York’s job growth in the recovery has been the 13th highest among all the states, yet no state had a higher reported increase in unemployment over the past two years.
