Despite a struggling financial sector, New York's food, entertainment and media industries are performing well.
Hiring Demand for Financial Analysts is running at 70% of the national average in New York City, and Hiring Demand for Personal Financial Advisors in New York is hovering at half the national average.
New Yorkers are still dining out, however, and Supply/Demand Ratios for cooks, bartenders and restaurant wait staff are more than three times the national average.
Demand for Actors, Dancers and Set Designers is also running high. Art directors, writers, editors, film editors, and journalists are also sought after in New York.
WANTED's Supply/Demand Ratios measure labor demand relative to the number of qualified candidates, on a market-by-market basis and on an occupation-by-occupation basis. All job counts are for the most recent one month period.
Three of the most important financial occupations are "Accountants and Auditors", "Financial Analysts", and "Personal Financial Advisors". New York City employs 6.25% of America's workforce, but employs 9.2% of America's Accountants and Auditors, 16.6% of America's Personal Financial Advisors, and17.5% of it's Financial Analysts. These last two occupations have been significantly affected by the financial crisis – the Supply/Demand ratio for Personal Financial Advisors in New York City is 53.1 (i.e. half the national average Hiring Demand for that occupation), and the S/D ratio for Financial Analysts is 70.1:
Source: WANTED Supply/Demand Ratios
Where should workers from New York City who have lost their jobs in these occupations direct their search? With the exception of Washington, DC, most major US metro markets have "Financial Analyst" S/D Ratios less than 100. Financial Analysts may have to displace themselves to smaller metro markets, as indicated by the following table that ranks markets based on the S/D ratio:
Source: WANTED Supply/Demand Ratios
There is below average Hiring Demand for Personal Financial Advisors in 12 of the top 15 US metro areas – Hiring Demand is proportionately larger in smaller metropolitan markets for "Personal Financial Advisors" as well:
Source: WANTED Supply/Demand Ratios
Demand for "Food Preparation and Serving Related Occupations" remains strong in New York City. Only one six-digit detailed occupation code has an S/D ratio less than 100, and many have an S/D ratio more than 150:
Source: WANTED Supply/Demand Ratios
Demand for Entertainment workers also remains strong:
Source: WANTED Supply/Demand Ratios
Finally, we display 25 occupations that have strong S/D ratios in New York City. Even though the financial sector has taken a hit, Hiring Demand for various types of Engineers, specialized Managers, Writers or Editors, and workers in the Arts remains strong in New York City. Unemployed workers with financial expertise can transition to occupations such as "Budget Analysts", "Financial Examiners", "Credit Analysts", or even "Management Analysts".
Source: WANTED Supply/Demand Ratios
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