Nov 1, 2007: Monster Employment Index Edges Up Two Points in October, Fueled by Increased White-collar Online Recruitment Activity
NEW YORK--(BUSINESS WIRE)--Nov. 1, 2007--The Monster Employment Index edged up two points in September, demonstrating greater online job availability across the country driven largely by stepped-up recruitment for white-collar and military occupations. The Monster Employment Index is based on a real-time review of employer job opportunities culled from a large, representative selection of corporate career sites and job boards, including Monster(R).
In an effort to present a single, comprehensive snapshot of U.S. national and local online recruitment trends, the Monster Employment Index has been expanded to include data for the top 28 U.S. metro markets previously issued each month as the Monster Local Employment Index. Because the local Index used a more compressed scale when it launched in June 2005, its current and historical data has been revised and rescaled using the same methodology as the national Index to ensure consistency and accuracy.
During October, 12 of 20 industries and 10 of 23 occupational categories tracked by the Index registered increased online job availability. Index results for the past 13 months are as follows:Oct. Sept.Aug. Jul. Jun. May Apr. Mar. Feb. Jan. Dec. Nov. Oct. 07 07 07 07 07 07 07 07 07 07 06 06 06 ----------------------------------------------------------------- 188 186 186 183 186 189 186 185 177 168 167 175 172 -----------------------------------------------------------------
"The Monster Employment Index's rise in October is an encouraging sign of continued stability in nationwide employer demand for workers, despite a moderating U.S. economy and the turmoil caused by the housing and credit markets," said Steve Pogorzelski, Executive Vice President, Global Sales and Customer Development at Monster Worldwide. "With the unemployment rate still hovering below five percent, the labor market remains historically tight with shortages of highly skilled workers driving much of the current online recruiting efforts."
Industries Registering Strong Increases in October Include Public Administration; Utilities; and Management of Companies and Enterprises
Among industries, the public administration category registered the sharpest rate of increase in online job availability during October, jumping 29 points, or 19 percent - the category's largest jump since the inception of the Index. The rise was primarily due to expanded online opportunities within the federal government. Online job demand in the utilities industry also jumped, gaining 14 points amid stronger seasonal demand from utilities likely looking to expand their staffing in advance of the colder winter season. Opportunities in the management of companies and enterprises category rose as well, edging up six points, indicating no significant impact on corporate hiring as of yet, due to recent turmoil in the financial market.
In contrast, online demand for transportation and warehousing posted the largest decline, falling eight points on the month. Demand for workers in the education services industry dipped, reflecting a more moderate level of recruitment activity after the sharp increase experienced ahead of the fall semester. Arts, entertainment and recreation also showed a decrease, leaving the category mostly flat from a year ago and indicating softer hiring in the industry. Construction; and real estate and rental and leasing - two categories with close ties to the slumping housing sector - also declined in October.
Military Specific; Life, Physical and Social Science; and Management Register Sharpest Monthly Increases among Occupations
In October, the military specific category registered the strongest rate of increase in online job availability among occupations tracked. The sizeable jump was comparable to increases seen each October since the Index's inception, and suggests intensified online recruitment activity by the U.S. Armed Services that is typical for this time of the year. Despite the increase last month, online job availability for military specific occupations remains lower than a year ago.
Online job availability also rose moderately for major white-collar occupations such as management; business and financial operations; architecture and engineering; and life, physical, and social sciences. Architecture and engineering, up four points, grew at the highest annualized rate in more than a year. Demand for these occupations surged through the first quarter of 2006 at the height of the residential construction boom, but then plunged dramatically as the housing market entered a downturn.
In contrast, online opportunities for occupations in education, training and library - as well as community and social services - eased in October, as school, colleges and non-profit organizations wound down their fall semester hiring. Several blue-collar categories also reported fewer opportunities last month, including construction and extraction; installation, maintenance and repair; and transportation and material moving, indicating generally softer overall demand for blue-collar workers. In fact, each of these categories is now flat or down on a year-over-year basis. Healthcare support remains the Index's top growth occupation on a year-over-year basis, with healthcare practitioners and technical following closely behind.
Seven of Nine U.S. Census Bureau Regions Show Increased Online Job Availability in October
Seven of the nine U.S. Census Bureau regions tracked by the Index saw online job availability expand in October, with New England registering the highest rate of increase on the month, driven by strong increases in Vermont and Rhode Island and continued growth in Massachusetts. On a year-over-year basis, the West South Central remains the Index's top growth region, while the Mountain and Pacific regions remain the slowest growing.
Among the 50 U.S. states and the District of Columbia, 37 states edged higher in October. New Mexico is now the Index's top growth state on a year-over-year basis.
Online Recruitment Activity Increases in 12 of the top 28 U.S. Markets in October
Among the top 28 U.S. cities tracked by the Index, online opportunities expanded the most in Cincinnati, Kansas City and Cleveland last month, fueled by greater demand for office and administrative support; and management occupations. In contrast, Miami and Orlando dipped the most, mostly due to fewer online job offers in construction, transportation and the sciences. Online job demand increased in a total of 12 metro markets in October, while 14 registered declines and two were unchanged.
From a year-over-year perspective, 19 of the 28 markets are showing greater online job availability, while eight have decreased and one remains flat. St. Louis replaced Houston as the Index's top growth market on an annual basis, spurred largely by increased demand for workers in management, education and healthcare occupations. Pittsburgh and Seattle also moved ahead of Houston. At the opposite end of the spectrum, California, Florida and the Washington, D.C. area are now home to the eight Index markets showing lower online job availability compared to a year ago, which is likely due in part to weaker demand in the housing related occupational categories in those metro areas.
To obtain a full copy of the Monster Employment Index report for October 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 November 2007 will be released on December 6, 2007.
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 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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