Tuesday, January 20, 2009

NY job outlook

This picture rocks.

On a separate, less pleasant note --

New York is No. 1 again - this time, unfortunately, in job losses.

The city is projected to shed more jobs than any other metro area in the country this year, with 181,000 people likely find themselves without a paycheck.

The grim forecast can be traced to turmoil in the finance industry, which will account for more than 50,000 of the jobs lost, according to IHS Global Insight, which researched employment trends nationwide for the U.S. Conference of Mayors.

And New Yorkers will find the ripple effect to be painful.

"Financial jobs are crucial, they are high paying, they generate income spent on law firms, restaurants and ad agencies," said Jim Diffley, managing director of at IHS Global Insight. "There will be spill-over that will be pretty broad."

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