December was a strong month for the Westchester County job market, recording a 17 percent increase in job posting activity vs. November, across multiple industries and towns. That followed a month that showed a 5 percent increase in job market activity. This news follows national reports that indicated a stronger than expected level of hiring for December, all of which leads the county in a positive direction to start 2014.
Some key items of note regarding December:
Ӣ White Plains continues to show itself as the hub of job market activity, followed by Yonkers and Tarrytown.
Ӣ The industries most actively hiring this past month were retail, services and health care.
Ӣ Top job categories were sales, health services and accounting.
A closer look at the data suggests no real surprises here, with retail”™s typical December surge tied to the holiday season, along with ongoing sustained strength in the services and health care sectors. The national unemployment figures released in early January suggest a continued level of modest improvement and therefore somewhat of a trend toward recovery. Westchester continues to demonstrate strength and cause for optimism as we enter January, which historically has been a strong month for county employment activity.
So what should we expect in 2014? To start, this is an election year for the governor”™s office, which suggests that any major changes or initiatives are likely to not arrive until 2015. That being said the state has recently embarked on an aggressive public marketing campaign to lure businesses to New York from out of state, as well as promote new business development, by offering huge tax incentives for up to 10 years. Pair that with Gov. Andrew Cuomo”™s plans to announce a program of tax cuts aimed at property and business-related taxes and optimism for the market can and likely will flow. With no clear opponent on the horizon, the usual distraction an election year holds for an incumbent may in fact be far less of an issue this year.
In short, the area seems poised to continue to show modest to more sustainable gains into the first quarter of 2014, benefiting perhaps from the job market activity levels in the tech sector in NYC and anticipated spillover of businesses looking for less expensive rents and talent into the county overall. Established area businesses look to also continue on the slow and steady growth path, leading to greater employment activity. Time will tell.
David Lewis is president/CEO of WestchesterCountyJobs.com. He can be reached at dlewis@OperationsInc.com.
