Monster Employment Index Dips Slightly in July

Monster Employment Index Dips Slightly in July

July 2009 Index Highlights:

• U.S. online recruitment activity
• Year-over-year rate of decline of 27 percent most moderate since February
• Offerings in the retail trade industry pick up again, while healthcare and social assistance exhibits downward trend
• Demand bounces back for military-specific occupations, showing least decline on annual basis

• Portland, OR notches higher for fourth consecutive month, indicating stabilization in local job market

NEW YORK, August 6, 2009 – The Monster Employment Index edged down three points in July, as U.S. online recruitment activity eased slightly and inline with seasonal hiring patterns.  Year-over-year, however, the Index fell by the least in four months, indicating additional improvement in underlying employer demand for workers at the outset of the third quarter.
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 July, online job availability rose in three of the Index’s 20 industry sectors and one of the 23 occupational categories monitored.  Index results for the past 13 months are as follows:

“The decline in U.S. online recruitment activity at the beginning of the third quarter is likely due to a seasonal summer slowdown that is typical this time of year, with most industry and occupational categories experiencing reduced demand,” said Jesse Harriott, senior vice president and chief knowledge officer at Monster Worldwide. “Although the Index is down 27 percent year-on-year, an encouraging take-away and potential sign of stability is the fact that the Index is now showing its most moderate pace of annual contraction since February.”

Mining; and Retail Trade Industries Edge Up in July while Wholesale Trade; and Healthcare and Social Assistance Ease

Online labor demand in the retail trade industry rose slightly in July for the third month in a row, as demand for sales and related occupations remained stable, mirroring step-wise improvement in U.S. consumer confidence and retail sales figures since February. Meanwhile, opportunities in the mining, quarrying and oil and gas extraction industry expanded for the first time since October last year.
In contrast, online demand in the healthcare and social assistance industry dipped in July. The recent declines in healthcare may suggest hiring the industry is now being impacted by the uncertain economy, following hitherto positive payrolls trends. Agriculture, forestry, fishing, and hunting registered the sharpest month-on-month decline among industries in July.
On an annual basis, public administration led all categories in terms of year-over-year growth, followed by agriculture, forestry, fishing, and hunting.
 
Online Job Opportunities for Military Specific Occupations Rise in July
                 
Military specific occupations were the only category to register an increase in online demand in July, driven primarily by public-sector and government contractor job posting growth across geographic regions.
           In contrast,  demand for both healthcare practitioners and technical as well as healthcare support occupations declined in July, extending a trend of cooling demand that followed high springtime hiring activity. Flattening trends were seen in the arts, design, entertainment, sports, and media category, which has remained relatively stable for a six month period after experiencing steep drops in 2008 and early 2009. Similar trends were also witnessed in occupations related to sales and transportation.
Year-over-year, farming, fishing and forestry saw the mildest rate of decline followed by military specific and education.

Online Job Availability Falls in All Nine U.S. Census Bureau Regions in July

            Online job demand fell in all nine U.S. Census Bureau regions in July, and all nine remain down year-over-year.  South Atlantic had the mildest fall between June and July largely due to the steady demand in Virginia. The Pacific region edged down two points and is now at its lowest level of the year, after holding steady during the spring months. This minor contraction was a result of lower online demand in California counterbalanced by somewhat expanded opportunities in Oregon.
Year-over-year, East South Central had the most moderate rate of decline closely followed by the South Atlantic region.
At the state level, monthly changes were minor in most states with the Dakotas, Oregon and Alaska experiencing increases in demand.

Two of the Top 28 Major U.S. Metro Markets Register Increases in July

During July, online recruitment activity eased in most metro areas monitored by the Index. Extending a four-month up-trend, Portland edged up by two points due to a rise in demand for life, physical, and social sciences; legal and management; and arts and entertainment workers. Miami was the only other market to register a rise in July largely due to expanded opportunities in several occupational sectors like healthcare practitioners/technical; and education/training.   

To obtain a full copy of the Monster Employment Index report for July 2009, and to access current individual data charts for each of the 28 metro markets tracked, please visit http://about-monster.com/employment-index.   Data for the month of August 2009 will be released on September 3, 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 periodically 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. To learn more about Monster's industry-leading products and services, visit www.monster.com. More information about Monster Worldwide is available at http://about-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.
 
Contacts:

General Information:

Deepika Murty
Monster Worldwide
978-461-8765
Deepika.Murty@monster.com

Media Inquiries:

Steve Sylven
Monster Worldwide
978-461-8503
Steve.Sylven@monster.com