If you want to get a job in NYC, dont bother. There are none. Those who do have jobs find themselves working at least 30% harder then they did a year ago and the threat of getting cut constantly looms in their minds. Despite working harder, the workers of NYC will be lucky to get any kind of raise or bonus. Surely, there will be more cuts made in 2009 or at least the early part. In fact, many companies have announced their intentions at making more cuts. Job fairs have become a circus with lines around the corner of persons in ties and suits ready to provide their resume to just about anyone. Employers that do post jobs are inundated with resumes and phone-calls. Its clear that there isn't much work out there and probably wont be for some time to come...
This is one of the reasons I set out never to have my life revolve around "the man". Because "the man" can always cut you off in an instant. I'd rather fail on my own accord than be told by the man that there isn't any work for you, sorry.
There will be good things that come out of this and that is new businesses and ideas that come from the many benched workers. There is no shortage of talent in the city right now. Lots of MBAs and ivy leaguers have been put out of work. Many of these guys are sitting at home right now developing some type of business or website.
Who said trading was risky...conventional employment is risky, and you don't even get paid that much to compensate for the risks.