New Yorkers finding jobs more quickly

According to a survey published by The Federal Reserve Bank of New York, New York City residents are finding jobs at a faster annual clip.

Some, for instance, are choosing the route of self-employment - a trend not counted in the employment data from the Bureau of Labor Statistics. The Fed spokesman believes the same is also true for Long Island.

Jason Bram, the Fed economist who co-authored the report, said, "I don't think that looking at trends in the number of jobs in the city is necessarily the best indicator of how well off New York City residents are in terms of their job opportunities."

Payroll statistics don't reflect changes in commuting patterns, including the increase in reverse commuting that may account for some New York City residents who work outside the five boroughs. The Bureau of Labor Statistics household survey, which looks at residents' employment instead of employers' payrolls, shows stronger growth, according to the report.

He added that NYC passed its 2001 employment levels in 2005.

And, if you had been reading this column, you would have known that the government statistics are misleading a long time ago!

Jeff Altman

The Big Game Hunter
Concepts in Staffing
jeffaltman@cisny.com

© 2006 all rights reserved.

Jeff Altman, The Big Game Hunter, is Managing Director with Concepts in Staffing, a New York search firm, He has successfully assisted many corporations identify management leaders and staff in technology, accounting, finance, sales, marketing and other disciplines since 1971. He is a certified leader of the ManKind Project, a not for profit organization that assists men with life issues, and a practicing psychotherapist.

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