Back to News
(February 2, 2009) The New York City Labor Market Information Service (NYCLMIS) released a comprehensive review of New York City’s labor market for policymakers and providers of the city's workforce development system at Annual Jobs Outlook and Trends Forum '09 co-sponsored with the New York City Employment and Training Coalition, the New York City Workforce Investment Board (WIB), and the New York City Workforce Innovation Fund.
The report, Gauging Employment Prospects for Employment in New York City, 2009, examines the largest employment industries according to five different criteria relevant to placing workers – employment trends, wage level trends, access for people with less than a four-year college degree, performance during previous recessions, and exposure to the financial services industries.
The review comes at a time when job opportunities are rapidly contracting and it is more important than ever for workforce providers to know the strengths and weaknesses of the many industries in New York City’s labor economy.
“Workforce providers need information so they can walk into this recession with their eyes open. They need to understand, as best as they can, the labor market we have right now in New York City,” said Lesley Hirsch, the NYCLMIS’ director. “With that knowledge they can make informed choices. There is no such thing as a perfect industry for workforce development during a severe recession; but there are pluses and minuses across the board.”
The report highlights the tradeoffs workforce providers must confront by selecting any industry in New York City. For example, some large industries have been hard hit by the recession, but pay high and rising wages, while some “recession-resistant” industries have experienced stagnant or declining real wages since 2000. Workforce providers can use this information to develop relationships with employers, align their training opportunities with appropriate occupational requirements, and emphasize job placements in more stable industry groups.
The NYCLMIS is a joint endeavor of the New York City Workforce Investment Board (WIB) and the Center for Urban Research at The Graduate Center of the City University of New York. The NYCLMIS creates research products that serve the practitioner and policy communities in their day-to-day and strategic decision-making and raise awareness of workforce issues important to New York City.
