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But not to worry, said Kainne Hansbury, a consultant for technology search at recruitment firm WinterWyman: “New York has rich offerings beyond the financial services industry. Some companies on the search for employees with strong computer-science fundamentals may start testing applicants in a new way: video games.
Google, which is also famous for its intense recruiting process, will invite more New Yorkers to take its tests now that it’s moving into the enormous chunk of Manhattan real estate it purchased four years ago. According to IT recruiting firm Mondo’s 2014-2015 Salary Guide, the top three skills currently in demand in New York are application and software development, e-commerce, and database administration.
TechAmerica’s Cyberstates 2013 found that New York State’s tech workers earned an annual average wage of $96,900 (ranked 8th among all states), 54 percent more than the state’s average private sector wage. Robert Half Technology reports that 14 percent of New York-area technology experts plan to expand their IT teams in the second half of the year, down from 17 percent in the last half. Another uber expensive, nasty locale with impossible housing costs, out of control taxes, ridiculous commutes, not to mention the New York attitude.
Yet the labor market still has some pain points: Long-term unemployment is higher than at any time since World War II, millions are not even looking for work and real wages are stagnant for most Americans.
Still, it's hard to call it a "sick" or "still-recovering" economy with unemployment this low and job-creation this strong. One key change, Lambert says: the rise of part-time low-paid jobs, often temporary, with unpredictable schedules and too few hours. About the authorMitchell Hartman is the senior reporter for Marketplace’s Entrepreneurship Desk and also covers employment.
Moody's Analytics economists Thursday said they were encouraged more broadly by gains in the job market and now see full employment by late 2015, a year earlier than they previously forecast.

Mike Darda at MKM also said in a note other labor indicators have improved to cycle highs, including job openings and the National Federation of Independent Business' small-business hiring plans. Full employment, however, should signal a more healthy job market, where hiring picks up from its current pace, finding a job becomes easier and workers see higher wages. Moody's economists said they have been surprised by the pace of decline in the jobless rate.
Even with six months of 200,000-plus payrolls growth, the rate of job creation has not been contributing to the labor force, as it has in the past.
Di Natale said she expects the slack to diminish as full employment gets closer and the job market will achieve better equilibrium. Currently job openings as a share of employment is 3.4 percent, and it was 4 percent before the recession, she said. July's slower gain of 209,000 nonfarm payrolls showed the economy is chugging along, and the labor market is improving, but economists also do not see it as strong enough to push the Fed to hike rates earlier than expected. A concern in markets has been that stronger data and signs of inflation mean the Fed will raise rates sooner than the second half of next year, the time frame expected by many economists. Get the weekly Dice Advisor with a digest of freshly posted jobs, tech news headlines & career advice. According to AlleyWatch, at least six major banking firms plan to use online video games with mechanics grounded in neuroscience to match candidates with jobs.
Amazon is also spreading out in New York, trying to land a deal for 286,000 square feet on ten floors in a Midtown building.
According to Crain’s New York Business, a recent survey of 1,200 tech executives by Silicon Valley Bank revealed that only 38 percent of New York tech companies feature at least one woman in either a boardroom or C-suite executive position.

The city’s Tech Talent Pipeline program, which tries to inspire unemployed or low-earning New Yorkers to enter tech fields, is partnering with The Flatiron School, a private vocational college, to offer free 12-week fellowships in Web development and programming, enough training to provide a running start and access to jobs that may pay up to $75,000. In September, the company announced the opening of the Business Technology Early College High School, a new school in Queens that enables students to earn a high school diploma, an associate degree in business systems or engineering technology, and gain relevant work experience—all at no cost to the family. While job growth has been in line with their expectations, there has not been the increase in labor force participation that economists have been anticipating as workers attempt to rejoin the workforce. The market has been watching the 6 percent level, since the central bank once targeted it as a level where it would begin to consider raising interest rates. New York’s tech sector is almost as large as the city’s other traditional sectors of healthcare, legal, finance, and retail. Pymetrics, a New York startup, helps companies assess up to 50 people using simple neuroscience games that test things such as a person’s attentiveness and impulsiveness. In the same survey, 82 percent of New York CIOs were optimistic about their companies’ prospects for growth in the second half, and 67 percent currently feel confident in their firms’ investment in IT projects. They are only 2 hours apart and probably every national bank and financial institution in America has their headquarters, or at least significant office space or entire buildings, in one city or the other or both.

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