RJ and Makay

Although it lost jobs, New York City's broad financial activities sector has posted its best hiring numbers in nearly a decade, reports the New York State Department of Labor (DOL).

Indeed, revised figures show employment in the sector fell by just 1,600 in January 2011, the best performance for that month since 2002. That's important because Wall Street galvanizes the New York City economy and spurs hiring in unrelated fields. The revised data did not include hiring numbers for the city's financial activities sector in January.

New marketing data from MediaMind hold an important lesson for financial product and service advertisers: Make a good first impression and don't overdo it.

According to the report, up to 60% of ads from the financial sector are wasted because they're repeats consumers ultimately end up ignoring. If they don't convert after their first exposure, chances are subsequent exposures won't have any effect. "The data shows that consumers can determine within the first exposure if a financial services offer is relevant to them," explains Gal Trifon, President and CEO of MediaMind.

With the recession and bear market still fresh in their minds, Americans are increasingly opting for savings vehicles with safety features such as a guaranteed income stream in retirement. Their need for more security has pushed demand for annuity products, especially variable annuities, to record highs.

For example, fourth-quarter variable annuity sales totaled $37.6 billion, a 10% increase from the previous quarter and an 18% gain from the fourth quarter of 2009, reports the Insured Retirement Institute (IRI). Variable annuity assets reached an all-time high of $1.5 trillion last year, the IRI adds.