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Wall Street Woes Hit the Nursery

Nanny unemployment up.


As Wall Streeters feel the pinch, they’re no longer hiring so many nannies. “It’s been a week and no one’s called,” says Christopher Sager, an out-of-work Soho nanny. “There are, like, 300-plus people looking at two jobs.” Caregivers face lost jobs, reduced hours, pay cuts, and added responsibilities as wealthy families trim household staff. Genevieve Thiers of says her babysitter-listing service has fielded more than 2,500 new job seekers since February, up from 1,300 in the previous six months. The number of child-care postings on Craigslist jumped three months ago, as more out-of-work nannies advertised their services. And Alan Friedman of A Choice Nanny says requests for part-timers have risen 20 percent, as families downsize from full-time help. But he’s not worried. “We’ve been through this before,” he says, “and we’ll be back.”

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