Managers Sweet on Big Apple Job Market

January 22, 2002 - New York City-area hiring managers - particularly those at mid-to-large sized companies - are optimistic about the prospects of the region's job market, a new survey finds.

The findings represent the first release of a new monthly Job Market Confidence Index developed by the New York Times – billed by the group as “an ongoing standard measure of job-market expectations”.

Results from the Times survey also show that:

  • only 25% of hiring managers believe that there are “very few” New York area job vacancies,
  • compared to 41% of job seekers who see such a shortage

Results also reveal that,

  • three-quarters of job seekers beleive that they face “very tough” competition,
  • only 52% are either “extremely” or “very” confident they will find a local job,
  • more than eight in 10 hiring managers don’t expect layoffs in the next six months, and
  • only 8% of hiring managers say they have too many employees for their workload

At mid- to large-sized companies,

  • a third of hiring managers a say they have too few workers,
  • while 66% are currently trying to fill vacancies

At smaller companies,

  • some 18% of hiring managers cited a staffing shortage, and
  • a third are trying to fill job openings

To prepare each index report, Times researchers gather input from 200 job seekers or 250 hiring managers from both large/mid-sized firms of 100 or more employees and smaller companies with fewer than 100 workers.