Monster Employment Index Edges Down Slightly in September
Strong Rise in Opportunities for Workers in Mining and
Transportation Industries Suggests Continued Expansion in Energy andDistribution/Logistics Sectors September 2006 Index Highlights: -- Index dips one point to 172 in September, yet remains elevated, demonstrating continued strength in overall online recruitment activity heading into the fourth quarter -- Index's year-over-year growth remains strong at 32 points, or 23 percent -- Arts, design, entertainment, sports and media occupations continue to show strong year-over-year growth driven by heightened demand for creative professionals in PR, marketing and advertising -- Surging year-over-year growth for the Gulf Coast region reflects the initial impact of Hurricane Katrina last September, and the subsequent build-up in online job demand Business Editors
NEW YORK--(BUSINESS WIRE)--Oct. 5, 2006--The Monster Employment Index dipped slightly in September, edging down one point to a level of 172, as weaker demand for workers in the financial services and utilities sectors offset heightened recruitment efforts in other industries such as mining; and transportation and warehousing. Overall, the Index remained just one point shy of its historical high point established in August, demonstrating continued strength in U.S. online recruitment activity heading into the fourth quarter.
Just seven of 20 industries and eight of 23 occupations tracked registered declines of varying degrees in September, but these were enough to cause a minor dip in the Index, which has maintained a mostly upward growth trend through the first three quarters of 2006 and is now showing year-over-year growth of 32 points, or 23 percent. Meanwhile, seven of the nine U.S. Census regions tracked registered increased online job availability, with the East South Central region showing the strongest monthly rate of growth of four points. Twenty-eight states and the District of Columbia also saw greater levels of online job demand during the month.
Monster Employment Index results for the past 13 months are as follows:Sept. Aug. Jul. Jun. May Apr. Mar. Feb. Jan. Dec. Nov. Oct. Sept. 06 06 06 06 06 06 06 06 06 05 05 05 05 ---------------------------------------------------------------------- 172 173 165 171 167 163 164 157 151 145 149 143 140 ----------------------------------------------------------------------
"The September findings of the Monster Employment Index suggest a more moderate pace of growth in U.S. online recruitment activity compared to earlier this year. Nevertheless, overall online demand for workers remains quite strong, and the national unemployment rate, currently at 4.7%, has remained below the five-percent mark for nine consecutive months - a further indication of underlying strength in the U.S. labor market," said Steve Pogorzelski, Group President, International at Monster Worldwide. "In fact, there are growing signs that prolonged talent supply constraints are finally starting to drive wages and salaries higher, as shortages of highly qualified employees force employers to increase the compensation packages they offer new hires."
Demand for Workers in Finance and Insurance Declines; While Online Job Availability in Mining; Transportation and Warehousing Surges
During September, ten of the 20 industry categories tracked by the Index showed greater online demand for workers, led by mining, which jumped 16 points, and transportation and warehousing, which surged for the second consecutive month, adding 13 points. The strong recruiting activity in these two sectors over the past two months suggests continued expansion efforts among energy and distribution/logistics companies.
Meanwhile, several industry sectors registered declines of varying degrees, led by sharply lower demand for workers in management of companies (down eight points); finance and insurance (down six points); and utilities (down five points). Online job availability in the real estate and rental and leasing industry also fell, falling six points to its lowest level since February, and mirroring the slide in new and existing home sales over the past several months.
Demand for Food Preparation and Serving; Arts, Design, Entertainment, Sports and Media Occupations Rises; While Opportunities for Military Specific; Personal Care and Service and Healthcare Occupations Ease
Twelve of the 23 occupational categories tracked by the Index showed increases of varying degrees in September, led by food preparation and serving related occupations, which rose seven points, reflecting sustained momentum in the restaurant industry and efforts by food and hospitality managers to replace departing seasonal workers. Online opportunities in arts, design, entertainment, sports and media occupations increased six points, driven by heightened demand for creative professionals in PR, marketing and advertising. The arts, design, entertainment, sports and media category has shown the highest year-over-year growth rate since December 2004 among all occupational categories.
Online opportunities for computer and mathematical (IT) occupations rose for the second consecutive month, adding five points amid high demand for qualified IT professionals going into the fourth quarter. With its high concentration of IT/computer companies, California in particular noted accelerated posting growth in this category.
In contrast, online job demand in a number of occupations dipped during September, led by military specific and personal care and service, which both shed six points. Other categories that showed slightly lower online job availability include farming, fishing and forestry; legal; healthcare practitioners and technical; healthcare support; and education, training and library.
Seven of Nine U.S. Census Bureau Regions See Stepped-up Online Recruitment Activity in September
Online recruitment activity increased in seven of nine U.S. Census Bureau regions in September, led by the East South Central region (up four points), which includes Alabama, Kentucky, Mississippi and Tennessee. The West South Central region also saw greater online job availability, adding two points. The region has continued to show strong growth in online recruitment activity over the past 12 months due to ongoing reconstruction efforts since Hurricane Katrina hit the region in September 2005. Overall, 28 U.S. states and the District of Columbia saw online job availability climb by varying degrees in September.
To obtain a full copy of the Monster Employment Index report for September 2006, including all charts and tables, please visit http://www.monsterworldwide.com/Press_Room/MEI.html. Data for the month of October 2006 will be released on November 2, 2006.
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. (NASDAQ: MNST), the parent company of the leading global online careers and recruitment resource, Monster(R). Based on a real-time review of millions of employer job opportunities culled from more than 1,500 Web sites, including a variety of corporate career sites, job boards and 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 ARC Research. The audit validates the accuracy of the online job recruitment activity measured within a margin of error of +/- 1.05%.
About Monster Worldwide
Founded in 1967, Monster Worldwide, Inc. is the parent company of Monster(R), the leading global online careers property. Headquartered in New York with approximately 4,200 employees in 36 countries, Monster Worldwide (NASDAQ: MNST) is a member of the S&P 500 Index and NASDAQ-100. More information about Monster Worldwide is available at www.monsterworldwide.com.
Monster(R) is the leading global online careers and recruitment resource. A division of Monster Worldwide, Monster works for everyone by connecting quality job seekers at all levels with leading employers across all industries. Founded in 1994 and headquartered in Maynard, Mass., Monster has 34 local language and content sites in 32 countries worldwide. More information is available at www.monster.com or by calling 1-800-MONSTER. To learn more about Monster's industry-leading employer products and services, please visit http://info.monster.com.
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