Feb 5, 2009: Monster Employment Index Declines in January

NEW YORK--(BUSINESS WIRE)--

January 2009 Index Highlights:

  • Index dips 13 points as online recruitment activity slows for the fourth consecutive month
  • Year-over-year, the Index was down 26%, a more negative pace than that seen during the previous three months, suggesting further deterioration in labor market conditions to start 2009
  • Online demand in the Public Administration rebounds after two months of decline
  • Arts, Entertainment, and Recreation remains the weakest trending industry sector, indicating a further softening in consumer leisure spending activity
  • Farming, Fishing and Forestry is the only occupational category to show a monthly, as well as a year-over-year increase in online recruitment activity
  • The slowdown in recruitment activity over the year has affected all regions of the country by similar degrees; over the past quarter, the Mountain region has shown particularly mild declines.
  • All 28 major metro markets register declines in January, with Seattle recording the mildest annual decrease

The Monster Employment Index declined 13 points in January, as a majority of industries, occupations, and markets noted a contraction in online job availability amid sustained uncertain economic conditions. Year-over-year, the Index is now down 26 percent, suggesting further deterioration in the labor market at the onset of the new year.

The Monster Employment Index is a monthly gauge of U.S. online job demand based on a real-time review of millions of employer job opportunities culled from a large representative selection of corporate career Web sites and job boards, including Monster®.

During January, online job availability rose in two of the Index’s 20 industry categories and one of the 23 occupational categories measured. Index results for the past 13 months are as follows:

Jan.

09

  Dec.

08

  Nov.

08

  Oct.

08

  Sept.

08

  Aug.

08

  Jul.

08

  Jun.

08

  May

08

  Apr.

08

  Mar.

08

  Feb.

08

  Jan.

08

118 131 143 150 160 159 157 163 166 174 167 165 160

"The fact that employers have chosen to begin recruiting in 2009 on a cautious note is not surprising given the uncertain nature of the global economy,” said Jesse Harriott, senior vice president and chief knowledge officer at Monster Worldwide. “However, there are a few bright spots, including recruiting activity in Public Administration as well as in the Agricultural sector. Furthermore, online recruitment activity still remains higher than levels seen during 2003 after the last recession.”

Public Administration and Agriculture, Forestry, Fishing and Hunting Industries Show Increased Online Job Demand in January

Public Administration and Agriculture, Forestry, Fishing and Hunting were the only two industry categories to register an increase in online job availability in January. The increase in the Public Administration sector, which rebounded after two consecutive months of decline, indicated that the government has stepped up recruiting efforts. There, however, seems to be a fundamental shift in the types of jobs on offer, with more temporary and contract jobs on the market now than in the past.

In contrast, the Arts, Entertainment, and Recreation industry plunged in January as scaled-back consumer spending exacted an increasingly heavy toll on the hiring of leisure-related workers. Meanwhile, the Finance and Insurance industry again posted a large decline in January as the current economic situation continued to weigh on the banking industry. Administrative/ Support also registered a record monthly decline.

Construction had a mild decline relative to the Index as a whole and, while the decline was small, it still indicated reduced job availability in an industry that has now experienced 18 consecutive months of month-over-month payroll shrinkage. Wholesale Trade and Transportation and Warehousing continued their downward trend reflecting that, with the lack of growth in wholesale orders and general consumption, both industries have stepped-down their capacity utilization.

On a year-over-year basis, Agriculture, Forestry, Fishing and Hunting was the Index’s fastest growing industry category, followed by Public Administration – the only other sector demonstrating an increase in demand over the year.

Online Job Opportunities for Farming, Fishing and Forestry Occupations rise in January

Farming, Fishing and Forestry was the only occupational category to register an increase in online job availability in January, as demand for all other occupational categories continued to be impacted by the economic recession.

Meanwhile, Healthcare Support occupations saw a small monthly decline, extending a four-month stretch of gradually tapered online demand. However, the healthcare industry’s relative resilience despite the recession was reflected in the way Healthcare Practitioners and Technical occupations nearly matched its year-ago level. Occupations in both Office and Administrative Support and Protective Service logged substantial declines in January. In fact, the Protective Service category, which seemed less impacted by economic conditions earlier in 2008, is now lower than any other time in the Index.

On a year-over-year basis, Farming, Fishing and Forestry led all categories in terms of annual growth followed by Military Specific, mirroring the labor market trends in the Public Sector as a whole.

Online Job Demand Dips in All Nine U.S. Census Bureau Regions in January

Online job availability fell in all nine U.S. Census Bureau regions in January. The East South Central region fell for the fourth consecutive month but to a lesser degree than the national average. New England registered the steepest rate of decline over the past three months, influenced heavily by the slowdown in demand in Massachusetts during the last quarter of 2008. The Pacific region registered the steepest annual decline. By contrast, Mountain had the most moderate decline in January and over the past three months, due in large part to Nevada’s online recruitment picking up during Q4 2008.

At the state level, Nevada and Alaska were the only two states that registered an increase in online job availability during January. West Virginia reported positive growth year-over-year.

All of the Top 28 Major U.S. Metro Markets register declines in January

There were fewer online job opportunities in all of the top 28 metro markets monitored by the Index. Sacramento and Denver registered the most moderate rate of decline. In contrast, Portland dropped the most among metro markets in the Index over the past three months reflecting slumping demand for construction, production, IT and creative occupations.

Year-over-year, Philadelphia registered the steepest decline and Seattle notched the smallest annual decline buoyed by solid hiring in healthcare, the sciences, IT, and creative occupations.

To obtain a full copy of the Monster Employment Index report for January 2009, and access current individual data charts for each of the 28 metro markets tracked, please visit http://corporate.monster.com/Press_Room/MEI.html. Data for the month of February 2009 will be released on March 5, 2009.

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. (NYSE: MWW), parent company of Monster®, 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 NYSE. To learn more about Monster's industry-leading products and services, visit www.monster.com. More information about Monster Worldwide is available at http://corporate.monster.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.

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