New York and Boston Jobs Growth Continues Decline -- Fourth Quarter 2012 Internet and Digital Media Jobs Index New York Adds 3.4% While Boston Adds 1.4% to Employment, According to Quarterly Report from Cook Associates Executive Search

BOSTON and NEW YORK, Feb. 5, 2013 /PRNewswire-iReach/ -- Cook Associates Executive Search (www.cookassociates.com), a leading retained executive search firm, today released its quarterly East Coast Internet and Digital Media Jobs Index, which is now tracking job creation at approximately 500 companies in New York and Boston. The Jobs Index for New York showed 3.4 percent growth for the fourth quarter, following on the heels of 3.6 percent growth in the past quarter. Boston, on the other hand, showed lower growth of 1.4 percent after a 1.9 percent increase in jobs in the third quarter. 

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John Barrett of Cook Associates stated, "Boston and New York saw a sharp decline in jobs growth in this sector in the last half of 2012. Overall, New York experienced an 18.7 percent increase in Internet and digital media jobs for the 2012 calendar year while Boston had a respectable growth rate for the year of 13.9 percent. However, most of that growth came in the first two quarters. New York continues to have a healthier employment climate headed into 2013."

Notable highlights for 2012 include the emergence of major new employers such as Amazon, eBay, LinkedIn, AppNexus and Fab.com in New York and Wayfair and HubSpot in Boston. Other major up-and-comers for the year include Etsy, ZocDoc and Quidsi in New York and Care.com, Karmaloop and Fiksu in Boston. Google has become a major fixture in both cities, employing more than 3,000 in New York and more than 1,000 in Boston. No other company in this survey comes even close to Google's employment.

Barrett continued, "We expect that early 2013 will show more of the same as what we saw in Q4 of 2012. New York and Boston experienced diminished venture capital investment in late 2012 and this will likely mean lackluster jobs growth in the near-term."

Fourth 2012 results from Cook Associates' Internet and Digital Media Jobs Index:

New York data:
327 Internet and digital media companies with 10+ employees in New York City

● Approximately 900 jobs added for a 3.4% gain
Percentage of companies that showed the following headcount changes:
● Increase in headcount: 60%
● Decrease in headcount: 27%
● No change: 13%

Top 10 companies showing largest headcount gains in New York include:

1. Google
2. Amazon
3. eBay
4. Fab.com
5. LinkedIn
6. Etsy
7. AppNexus
8. Yelp
9. Warby Parker
10. Pandora
Up-and-coming companies showing large headcount gains:

● Indeed.com
● BuzzFeed
● Tumblr
● chloe & isabel
● Complex Media
● Birchbox
● Moda Operandi
● Yodle
● FiftyOne
● Operative
● Conductor
● Squarespace
● Bitly
● MediaMath
● Yext
● Lot18
● Quirky

Boston data:
170 Internet and digital media companies with 10+ employees in Boston

● Approximately 200 jobs added for a 1.4% gain
Percentage of companies that showed the following headcount changes:
● Increase in headcount: 60%
● Decrease in headcount: 31%
● No change: 9%
Top 10 companies showing largest headcount gains in Boston include:

1. Wayfair
2. HubSpot
3. Vistaprint
4. Google
5. TripAdvisor
6. Rue La La
7. Amazon
8. Karmaloop
9. Care.com
10. Jumptap

Up-and-coming companies showing large headcount gains:

● DataXu
● CustomMade
● Bluefin Labs
● Localytics
● CoachUp
● NetProspex
● FitnessKeeper
● Gemvara
● Visible Measures
● Wordstream
● Tapjoy
● VisualIQ
● Punchey

Cook surveyed only pure-play Internet and digital media companies. Based on its research, the company believes that the businesses surveyed represent more than 90 percent of the Internet and digital media employees in New York and Boston. Virtually all companies in the survey are currently or were previously financed by venture capital investors. Major digital sub-sectors covered include media/content, social networking, advertising, mobile media/commerce, e-commerce, video, local, analytics and marketing software. Excluded from the survey were digital-focused employees of "traditional" companies and digital ad agencies. Cook Associates continually adds or subtracts companies for inclusion in the Index based on the criteria of employing 10 or more employees in either the New York or Boston metropolitan areas. Cook's East Coast Internet and Digital Media Jobs Index is current as of January 1, 2013.

John Barrett:
LinkedIn: http://www.linkedin.com/in/johnbarrett3
Twitter (@jbarrett): https://twitter.com/#!/jbarrett

About Cook Associates Executive Search

Cook Associates provides retained executive search services to multinational corporations, early-stage entrepreneurial companies, midcap, privately held and family-owned businesses, as well as venture capital- and private equity-backed firms. The company's reputation as a trusted business advisor is built on decades of successfully identifying and guiding clients to the right solutions to drive performance and gain competitive advantage. For more information, visit www.cookassociates.com.

Media Contact: Jessica Gentile Cook Associates, 312-755-5619, jgentile@cookassociates.com

News distributed by PR Newswire iReach: https://ireach.prnewswire.com

SOURCE Cook Associates Executive Search


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