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Jan 3, 2008: Monster Employment Index Declines in December
During December, nearly all of the 20 industries and 23 occupational categories tracked by the Index registered lower online job availability compared to the previous month. Two industry categories remained unchanged and two occupations edged up slightly. As a result of the December findings, the Index's year-over-year growth eased further to a modest two points, or one percent. Index results for the past 13 months are as follows:
Dec. Nov. Oct. Sept. Aug. Jul. Jun. May Apr. Mar. Feb. Jan. Dec. 07 07 07 07 07 07 07 07 07 07 07 07 06 -------------------------------------------------------------------- 169 183 188 186 186 183 186 189 186 185 177 168 167 --------------------------------------------------------------------"Approximately half of the Index's decline in December 2007 can be attributed to seasonality as employers naturally scale back their hiring activities during the final month of the year," said Steve Pogorzelski, Executive Vice President, Global Sales and Customer Development at Monster Worldwide. "The Index has consistently shown a seasonal slowdown every December since its inception, which is usually followed by a sizable rebound in the months that immediately follow. The modest rise in January 2007 was the only exception, so it will be interesting to see the Index's January 2008 results when they are released next month."
Public Administration and Agriculture, Forestry, Fishing and Hunting Industries Remain Flat in December as all other Industry Categories Decline
During the month, only two industries - public administration; and agriculture, forestry, fishing and hunting - bucked the downward trend and remained unchanged from November. Key industries that registered significant declines on the month include administrative, support and waste management, which fell 22 points to its lowest level since March 2004; retail trade, which dropped 20 points, and wholesale trade, which exhibited a more moderate dip, falling eight points, but remains 18 points, or 13 percent, improved over the year. Meanwhile, the financial sector also continued to show signs of a weaker job market in the wake of the subprime mortgage fallout. Online job availability for the finance and insurance industry declined 14 points, to its lowest level since May 2005. The category is now down eight points, or six percent, year-over-year.
Farming, Fishing and Forestry; and Military Specific Occupations Edge Up in December, while all other Occupational Categories Show Seasonal Slowdown
During December, farming, fishing and forestry; and military specific were the only occupational categories to register increases in online job demand, rising two points and one point, respectively. Meanwhile, the office and administrative support category shed 18 points, and is now down eight points from a year ago. Demand for sales and related occupations also dipped sharply, falling 14 points to the category's lowest level since December 2005, indicating retailers are hiring more cautiously following an uncertain holiday shopping season. At the same time, the subprime mortgage fallout continued to impact job opportunities in the financial sector, as business and financial operations occupations also dropped significantly on the month, falling 18 points. The category is now down eight points over the year. The healthcare support category registered a small dip in online opportunities, edging down three points, and remains the Index's top growth occupational class year-over-year, with healthcare practitioners and technical following closely behind.
Online Job Availability Declines in all Nine U.S. Census Bureau Regions in December
Similar to the Index results of December 2006; all nine U.S. Census Bureau regions saw reduced online job availability last month. The South Atlantic region showed the mildest decline on the month; however most of the regions were down by similar percentages. Meanwhile, six of the regions were still showing year-over-year growth in online job availability, with West South Central showing the highest annual growth rate. The Pacific, South Atlantic and Mountain regions all reported reduced demand from a year ago as California, Florida and Arizona remained among the states showing the sharpest declines year-over-year, likely due to the slumping housing markets and above-average exposure to the troubled mortgage lending sector.
Online Job Availability Declines in all 28 Major U.S. Metro Markets in December
During the month, all of the top 28 U.S. metropolitan areas tracked by the Index registered lower online job availability, with Portland, Chicago and Sacramento exhibiting the sharpest declines between November and December due to reduced demand across a broad range of industry sectors. More moderate declines were seen in Houston, Denver and Tampa, as sharply increased demand for life, physical, and social science occupations in all of these markets offset declines in other occupational categories.
On a year-over-year basis, 17 markets are showing higher online job demand, with St. Louis and Pittsburgh continuing to report the highest annual rate of increase. St. Louis has exhibited a sharp rise in online opportunities for office and administrative support occupations while Pittsburgh's growth has been largely fueled by surging demand across blue-collar occupations. Meanwhile, Baltimore, Orlando and San Diego are showing the steepest declines from a year ago.
To obtain a full copy of the Monster Employment Index report for December 2007, and access current individual data charts for each of the 28 metro markets tracked, please visit http://www.monsterworldwide.com/Press_Room/MEI.html. Data for the month of January 2008 will be released on February 7, 2008.
About the Monster Employment Index
Launched in April 2004 with data collected since October 2003, the Monster Employment Index is a broad and comprehensive monthly analysis of U.S. online job demand conducted by Monster Worldwide, Inc. Based on a real-time review of millions of employer job opportunities culled from a large, representative selection of corporate career sites and job boards, including Monster, the Monster Employment Index presents a snapshot of employer online recruitment activity nationwide. All of the data and findings in the Monster Employment Index have been validated for their accuracy through independent, third party auditing conducted on a monthly basis by Research America, Inc. The audit validates the accuracy of the online job recruitment activity measured within a margin of error of +/- 1.05%.
About Monster Worldwide
Monster Worldwide, Inc. (NASDAQ: MNST), parent company of Monster(R), the premier global online employment solution for more than a decade, strives to bring people together to advance their lives. With a local presence in key markets in North America, Europe, and Asia, Monster works for everyone by connecting employers with quality job seekers at all levels and by providing personalized career advice to consumers globally. Through online media sites and services, Monster delivers vast, highly targeted audiences to advertisers. Monster Worldwide is a member of the S&P 500 Index and the NASDAQ 100. To learn more about Monster's industry-leading products and services, visit www.monster.com. More information about Monster Worldwide is available at www.monsterworldwide.com.
Special Note: Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: Except for historical information contained herein, the statements made in this release constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements involve certain risks and uncertainties, including statements regarding Monster Worldwide, Inc.'s strategic direction, prospects and future results. Certain factors, including factors outside of Monster Worldwide's control, may cause actual results to differ materially from those contained in the forward- looking statements, including economic and other conditions in the markets in which Monster Worldwide operates, risks associated with acquisitions, competition, seasonality and the other risks discussed in Monster Worldwide's Form 10-K and other filings made with the Securities and Exchange Commission, which discussions are incorporated in this release by reference.
SOURCE: Monster Worldwide, Inc.
General Information: Monster Worldwide Kathryn Burns, 212-351-7063 kathryn.burns@monsterworldwide.com or Media Inquiries: Weber Shandwick Lauren McDonald, 617-520-7116 lmcdonald@webershandwick.com
