Dec 6, 2007: Monster Employment Index Declines in November
NEW YORK--(BUSINESS WIRE)--Dec. 6, 2007--The Monster Employment Index fell five points in November, reflecting a broad decline in online job availability across industries, occupations, regions and local markets during the month. The Monster Employment Index is 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(R).
During November, just two of 20 industries and two of 23 occupational categories tracked by the Index registered increased online job availability. As a result, the Index's annual growth pace slipped to 4.6 percent, the lowest on record, indicating further deceleration in overall U.S. online job demand. Index results for the past 13 months are as follows:Nov. Oct. Sept. Aug. Jul. Jun. May Apr. Mar. Feb. Jan. Dec. Nov. 07 07 07 07 07 07 07 07 07 07 07 06 06 ---------------------------------------------------------------- 183 188 186 186 183 186 189 186 185 177 168 167 175 ----------------------------------------------------------------
"This marks the first time since its inception, that the Index has declined during the month of November and suggests that a two-year low in consumer confidence amid greater economic uncertainty is making employers more cautious about their near-term hiring plans," said Steve Pogorzelski, Executive Vice President, Global Sales and Customer Development at Monster Worldwide. "Nevertheless, the Index remains eight points higher year-over-year and there are still pockets where demand for workers was strong last month, particularly in the areas of legal, healthcare, utilities and public administration."
Utilities and Public Administration Industries Register Strong Increases in November
Among industries, the utilities category registered the sharpest rate of increase in online job availability in November, edging up 12 points, or seven percent, on heightened seasonal demand ahead of the colder winter months. Online demand in the public administration industry also edged upward, gaining four points, or two percent.
During the month, online opportunities in the arts, entertainment, and recreation industry fell sharply, suggesting a softer hiring outlook in leisure and tourism. Offers in the finance and insurance industry also dipped, following months of reported layoff announcements in the mortgage industry and financial losses within the banking sector. Meanwhile, opportunities in the real estate and rental and leasing industry ebbed, as home sales hit a new low in October, suggesting a further downturn in the troubled housing market. At the same time, demand in the retail trade industry eased following a pre-holiday shopping season rise during the previous month.
Despite registering declines last month, both the management of companies and enterprises; and administrative and support industry categories are showing double-digit gains in online job availability over the past year.
Legal; and Community and Social Services Register Sharpest Monthly Increases among Occupations
During November, the legal category registered the strongest rate of increase in online job availability among occupations tracked, edging up four points, or two percent, followed closely by the community and social services category, which rose three points, or one percent. Online opportunities for sales and related occupations also declined in November, reflecting a cautious retail hiring environment as U.S. consumer confidence dipped to a two-year low. The sales and related category is now down five percent over the year.
In another sector sensitive to consumer spending, online demand for food preparation and serving occupations eased for the fifth consecutive month. The computer and mathematical (IT) category also dipped last month and is now down seven points, or four percent, over the year. In contrast, architecture and engineering, which slumped earlier because of the housing market slowdown, is now showing a moderate gain year-over-year.
Over the year, healthcare practitioners and technical; and healthcare support remain the Index's top-performing occupational categories, fueled by rapid job growth and acute demand for skilled healthcare professionals. Both categories are up more than 25 percent on a year-over-year basis.
Online Job Availability Declines in All nine U.S. Census Bureau Regions in November
All nine U.S. Census Bureau regions saw reduced online job availability in November, with the East South Central region showing the sharpest decline, dropping six points, or four percent. Meanwhile, the East North Central region fell by a more modest three points, or two percent. On a year-over-year basis, the West South Central region is still the Index's top growth region, while Pacific is the only region showing a decline in online job demand compared to a year ago.
Among the 50 U.S. states and the District of Columbia, only five states saw increased online recruitment activity in November. Vermont and Hawaii showed the largest increases on the month.
Three of the Top 28 U.S. Metro Markets Register Gains in November
Among the top 28 U.S. cities tracked by the Index, only Orlando, Pittsburgh and Tampa saw increased online job availability in November, while Portland, San Diego and Cincinnati experienced the sharpest declines. The Orlando market's higher reading was mostly due to heightened demand for transportation and material moving occupations, while a rise in opportunities for various blue-collar occupations drove the Pittsburgh Index. Increased demand for service and military occupations helped fuel gains in the Tampa metro area.
On a year-over-year basis, St. Louis remains the Index's top growth market, having risen 29 percent over the past 12 months, while Baltimore has dipped the most, falling 21 percent. Growth in St. Louis has been fueled by high demand for management and office and administrative support occupations, while Baltimore has seen a significant drop in white-collar demand, specifically in the areas of business and financial operations and the sciences.
To obtain a full copy of the Monster Employment Index report for November 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 December 2007 will be released on January 3, 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.
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