Skip to content, or skip to search.

Skip to content, or skip to search.

Wall Street Woes Hit the Nursery

Nanny unemployment up.

ShareThis

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 SitterCity.com 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.”

Have good intel? Send tips to intel@nymag.com.


Related:

Advertising
Current Issue
Subscribe to New York
Subscribe

Give a Gift

Advertising