Job Outlook: New York, NY
New York City is the most-populated city in the United States. With that massive influx of people comes several influential industries. Approximately 42 Fortune 500 companies are housed in New York City. The financial industry employs over 35% of the city's population.
Unemployment Rate of New York City:
The unemployment rate of the NYC Metropolitan area was 8.2% according to April 2011 statistics from the Bureau of Labor Statistics, April 2011 report.
Top Industries in the New York City Metro Area:
The current fastest growing industries in the New York City metro area are:
- Management – led by Ernst & Young, LLP
- Information Technology – Led by CyberCoders Engineering
- Finance – Led by Ernst & Young, LLP
- Accounting – Led by Robert Half and Ajilon Professional Staffing
- Sales – Led by CyberCoders Engineering and Bloomingdales
- Health Care – Led by White Glove Placement
The current best paying industries in the New York City metro area are:
Top Companies in the New York City Metro Area:
- J.P. Morgan Chase & Co. – Ranked 13th on the most recent Fortune 100 list, J.P. Morgan is a large provider of financial services. They are the largest bank in the United States, and the largest public company in the world, according to Forbes.
- Citigroup – Sitting just below J.P. Morgan Chase & Co at number 14 on the Fortune 100, Citigroup is another of the largest four banks in the United States. Citigroup holds the world's largest financial services network and employs approximately 260,000 worldwide.
- Verizon Communications – Originally formed as Bell Atlantic, one of the "Baby Bells" in the mid-1980s, Verizon Communications was officially formed when Bell Atlantic merged with GTE in 2000. Since 2000, Verizon has risen to 16th place on the Fortune 100.
- American International Group (AIG) – AIG is an insurance corporation, headquartered in New York City and serving customers in over 130 countries. Per the Forbes Global 2000 list of 2011, AIG is the 29th-largest public company in the world. Their most popular services in the United States include life insurance and retirement services.
- Goldman Sachs Group – Goldman Sachs specializes in investment banking and securities, largely with institutional clients. They are headquartered in Lower Manhattan and currently reside at 54th place on the Fortune 100.
- Pfizer – Based in the heart of New York City, Pfizer is the largest pharmaceutical company in the world by sales. They are ranked at 31 on the Fortune 100 and employ approximately 116,000 people worldwide.
- MetLife – With 90 million customers in 60 countries, MetLife is one of the largest global providers of insurance and employee benefit programs. They are the largest life insurer in the United States and employ roughly 50,000 people globally.
- New York Life Insurance - Ranked at 71 on the Fortune 100, New York Life Insurance is the largest mutual life insurance company in the United States. They hold operations in all 50 states and have markets in Asia and Latin America as well.
- Morgan Stanley – Ranked 63rd on the Fortune 100, Morgan Stanley is a global financial services firm that serves both large corporate entities and individuals. They employ approximately 60,000 people worldwide.
- News Corporation – Headquartered near Rockefeller Center, News Corporation (oft-abbreviated News Corp) is the world's third-largest media corporation, next to The Walt Disney Company and Time Warner. They are ranked 83rd on the Fortune 100 and provide roughly 55,000 entertainment/media jobs worldwide.
Top New York City Jobs in need of workers:
Top New York City metro area employment trends*:
- New York City area work from home opportunities decreased 58% since October 2009.
- New York City area consulting opportunities decreased 57% since October 2009.
- New York City area outsourcing opportunities increased 184% since October 2009.
New York City attitudes and employment outlook:
New York City is projected to grow by 3.8% through 2018. As the economy continues to recover, New York City's strong base of finance, banking and information technolgoy jobs should grow.
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** According to SimplyHired Employment Trends