RJ and Makay

Although the job market hasn't shown much improvement since the recession began, projections for job growth in 2011 are optimistic. That's because the earliest signs of revival are there.

Businesses increased their payrolls by 103,000 workers in December, for example, and the Labor Department recently revised its initial estimates of October and November job gains upward by 70,000. Furthermore, unemployment fell to 9.4% from 9.8% in November (although that drop partly reflected people who have simply stopped looking for work).

Lately, there has been a great amount of news about the upswing in hiring on the Street. While unemployment and job creation continue to remain sluggish nationwide, the financial services sector is starting to feel “bullish” about hiring again. At RJ & Makay we’re seeing cautious optimism throughout the industry regarding human capital hiring trends. We’re seeing first hand a steady increase in job orders this year, and a substantial jump in Q2 quantity over Q1.

News abounds in recent months regarding financial services hiring. Securities firms added almost 7,000 jobs in June according to BrokerHunter.com’s latest Employment Trends report. The finance and insurance industry added 15,200 new employees in June, the first increase since December. The New York State Department of Labor shows that New York just had the largest three-month increase in financial industry jobs (6,800) since 2008.