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Monster Employment Index Europe Shows Solid Growth in October 2005, Driven by Sharp Increase in Online Job Availability in France
LONDON & NEW YORK, Nov 08, 2005 (BUSINESS WIRE) -- Monster Worldwide, Inc. (Nasdaq:MNST):
-- The Netherlands and the UK Register Greater Online Job Availability as Retail Sector Shows Signs of Recovery
-- Germany and Sweden See Moderate Growth in October, After Solid Gains in September
-- IT and Research & Development Sectors Show Increased Online Recruitment Activity Across All Five European Countries
The Monster Employment Index Europe saw solid growth in October, registering a three point increase from 110 in September to 113 in October. The Index was driven by growth in online recruitment activity in France, which jumped sharply, rising ten points during the month. Online job recruitment activity and related employment opportunities rose strongly in the UK and the Netherlands, with both moving three points higher, while Germany and Sweden registered more moderate growth, edging up one point.
"The October findings of the Index are very encouraging. France had shown signs of steady growth in the latter half of September, however the Index's ten-point jump in October was unexpected, given the state of the French economy. Nevertheless, the Index findings do mirror the latest statistics from the National Institute for Statistics and Economic Studies (INSEE) which show that French business confidence rose to its highest level in eight months during October," said Peter Dolphin, CEO, Monster Worldwide Europe. "On the other hand, the German Institute for Economic Research (IFO) found that German business confidence jumped strongly in October, while our Index findings only registered moderate growth in online recruitment activity in Europe's largest economy. Despite this minor movement, Germany did show continued strength, extending an unabated ten-month upward growth trend that suggests a steadily improving business climate in that country."
Monster Employment Index Europe results for the past eleven months are as follows:
Oct Sep Aug Jul Jun May Apr Mar Feb Jan Dec 05 05 05 05 05 05 05 05 05 05 04 -------------------------------------------- 113 110 109 109 108 105 104 103 100 94 94 --------------------------------------------Online Job Availability Rises in All Five European Index Countries in October
"The Monster Employment Index Europe findings for October are a very positive indicator of increased hiring activity among European businesses in the first month of the final quarter of 2005," said Kai Deininger, Head of Marketing Communications, Monster Europe. A weak euro against the dollar is helping to drive exports by making Europe's goods cheaper overseas. In the past month, we have seen online hiring activity rise in the production and manufacturing sectors, a trend which is consistent with Eurostat figures showing growth in industrial output in Europe. As crude oil prices stabilise, the Index's latest findings suggest we will continue to see stronger business growth and expansion in the five European countries we track."
Monster Employment Index Europe findings for the five countries from December 2004 through October 2005 are as follows:
Oct Sep Aug Jul Jun May Apr Mar Feb Jan Dec Country 05 05 05 05 05 05 05 05 05 05 04 ------------------------------------------------------------- France 108 98 102 110 106 106 104 102 100 94 94 ------------------------------------------------------------- Germany 117 116 114 110 109 106 103 102 99 96 93 ------------------------------------------------------------- Netherlands 111 108 108 110 107 106 103 103 97 93 97 ------------------------------------------------------------- Sweden 99 98 94 98 104 105 101 103 102 91 97 ------------------------------------------------------------- United Kingdom 106 103 103 106 104 103 103 104 102 91 97 -------------------------------------------------------------Index Shows Broad Growth Across Most Occupations in October, Led by Higher Demand for Legislators, Senior Officials, Technicians and Clerks
Five of the nine occupational categories tracked by the Index registered increases in online job demand in October. Online job opportunities for legislators, senior officials, technicians and clerks saw the strongest rate of growth across the five countries. While three of the five countries exhibited higher demand for service and shop workers, aggregated demand across Europe remained flat overall, due to declines in both Germany and Sweden.
The IT sector saw online recruitment activity rise across all five countries, with the strongest growth registered in France, Sweden and the Netherlands. This is consistent with recent studies by the European Information Technology Observatory (EITO) indicating that the IT sector in Europe is poised to grow by 2.9% in 2005.
The volume of online job offers in the research & development (R&D) sector increased significantly in October, with the science sector seeing the strongest jump in demand for workers across the five countries. This is an encouraging sign for Europe as it strives to meet its goal of devoting 3% of GDP to R&D by 2010. However, according to the International R&D Scoreboard, European companies increased their R&D spending by just 2% in 2004-05, suggesting that Europe still has a ways to go in achieving its goals.
Online job availability for professionals in the sales, marketing and PR sectors also grew across Europe over the past month. Higher demand for sales positions, in particular, was likely due to companies gearing up for salesforce expansion to help drive business in the final quarter of 2005 and ensure continued momentum into 2006.
The only occupation to register a decline in online job demand during October was skilled agricultural and fishery workers. This is likely due to the European harvesting season coming to a close in September, resulting in decreased hiring activity.
Monster Employment Index Europe findings across occupational categories from December 2004 through October 2005 are as follows:
Oct Sep Aug July Jun May Apr Mar Feb Jan Dec Occupation 05 05 05 05 05 05 05 05 05 05 04 ---------------------------------------------------------------------- Legislators, senior officials and managers 107 101 104 104 104 104 102 103 104 93 94 ---------------------------------------------------------------------- Professionals 111 110 109 108 106 106 103 103 100 94 94 ---------------------------------------------------------------------- Technicians and associate professionals 112 108 107 107 107 106 104 103 100 94 94 ---------------------------------------------------------------------- Clerks 113 109 107 106 105 105 102 104 101 94 94 ---------------------------------------------------------------------- Service workers and shop and market sales workers 101 101 101 105 106 105 104 103 100 94 94 ---------------------------------------------------------------------- Skilled agricultural and fishery workers 97 98 98 102 104 104 104 102 101 96 92 ---------------------------------------------------------------------- Craft and related workers 121 121 118 114 110 107 104 102 98 94 96 ---------------------------------------------------------------------- Plant and machine operators and assemblers 111 110 107 111 108 104 103 104 102 93 95 ---------------------------------------------------------------------- Elementary occupations 110 110 112 112 111 107 105 101 97 95 95 ----------------------------------------------------------------------Online Job Demand in France Rises Sharply in October, Reversing Downward Trend
Online job recruitment activity across France jumped ten points from 98 in September to 108 in October, reversing a two-month downward trend. All of the occupational categories tracked by the Index saw increases of varying degrees in France during the month. Significant increases in online job availability for both blue collar and white collar workers points to increased confidence in the French economy during October. During August and September the banking and finance sector appeared especially conservative in terms of online recruitment activity. However, this trend was reversed in October with legislators, senior officials and managers experiencing strong growth in online job demand. The IT sector also saw a resurgence in October with a greater number of online job offers for clerks, technicians and professionals.
Monster Employment Index Germany Rises for the Tenth Consecutive Month
The Monster Employment Index Germany edged up one point in October, continuing a ten-month growth trend in online job demand. The Index rose from 116 in September to 117 in October, registering the highest level of online job availability since the inception of the Index. Germany was the only country tracked by the Monster Employment Index Europe to continue showing strong, continuous and uninterrupted growth since December of last year.
Overall online recruitment activity in Germany during October was driven by a rise in job availability for white collar workers. The findings were consistent with research from ZEW, the Centre for European Studies of Economics, which showed a slight increase in business confidence during October. On the other hand, research from the German Institute for Economic Research, IFO found that German business confidence jumped strongly in October, which was not reflected in the Index findings. The October data reflects a more cautious environment which has been observed since the non-conclusive result of the elections in September.
Online Job Demand Increases in the Netherlands
The Index for the Netherlands registered a solid rise of three points in October, following a flat reading in September. Seven of the nine occupational categories tracked by the Index increased, with legislators and senior officials seeing the biggest jump in demand. Shop and sales workers, plant and machine operators, professionals and technicians also saw a solid increase in online job availability. In contrast, skilled agriculture and fishery workers declined in October, continuing a three-month downward trend. Increased demand for service and shop workers suggests that the retail sector is starting to pick up and consumer confidence is rising. The Dutch statistics agency, CBS reported that unemployment numbers in the Netherlands have stabilised in the third quarter of 2005.
Monster Employment Index Sweden Sees Moderate Growth
Online recruitment opportunities grew slightly in Sweden, edging up one point from 98 in September to 99 in October. Seven of the nine occupational categories grew in October with plant and machine operators and craft workers registering the highest growth. Demand for legislators, senior officials and managers saw continued growth, while opportunities for the service and shop workers category fell sharply. The growth in online job opportunities registered by the Index is consistent with declining unemployment in Sweden. According to the Central Statistical Bureau, unemployment in September fell to 5.4% from 6.5% in August.
UK Registers Solid Growth in October
Online recruitment activity across the UK increased in October, with the Index rising from a level of 103 in September to 106 in October, returning the Index to the record level set in July. During the month, eight of the nine occupational categories registered increased online job demand. Craft workers, legislators, senior officials and managers experienced the greatest rate of growth, driven by higher demand for workers in the sales, marketing and PR sectors. Demand for service and shop workers also increased, providing a positive sign for the UK's beleaguered retail sector, which may partly reflect increased consumer spending after the Bank of England cut interest rates in August for the first time in two years. Plant and machine operators was the only category that showed a slight decline in online job opportunities in October. This was partly as a result of lower demand in the production, manufacturing, maintenance and repair sectors. In October, the Confederation of British Industry (CBI) issued a report predicting the imminent loss of more manufacturing jobs.
About the Monster Employment Index Europe
Launched in June 2005 with data collected since December 2004, the Monster Employment Index Europe is compiled by Monster Worldwide, parent company of leading global online careers and recruitment resource, Monster(R). The Index was established to provide European labor market watchers with a valuable monthly snapshot of online recruitment activity based on the researching of millions of employer postings across more than 1,400 Web sites. In addition to providing an analysis of European online job demand, the Index offers a sub-index by occupation, including data on nine occupational categories in five countries: France, Germany, the Netherlands, Sweden, and the United Kingdom. The Index is independently audited by ARC Research, a U.S.-based market research company, to ensure the accuracy of the data within a margin of error of +/- 1.05%. The Monster Employment Index debuted in the U.S. in April 2004.
Additional information on the Monster Employment Index Europe is available online at http://euindex.monsterworldwide.com. Visitors can subscribe to receive the European Index report, as well as any or all of the five country-specific Index reports on a monthly basis via email. Monster Employment Index Europe data for November will be released on December 13, 2005.
More information about Monster in France, Germany, the Netherlands, Sweden, and the United Kingdom can be found, respectively, at:
About Monster Worldwide
Founded in 1967, Monster Worldwide, Inc. is the parent company of Monster(R), the leading global online careers and recruitment resource. The company also owns TMP Worldwide, one of the world's largest Recruitment Advertising agency networks. Headquartered in New York with approximately 4,800 employees in 26 countries, Monster Worldwide (Nasdaq:MNST) is a member of the S&P 500 Index. More information about Monster Worldwide is available at www.monsterworldwide.com.
About Monster
Monster(R) is the leading global online careers and recruitment resource. A division of Monster Worldwide, Monster was founded in 1994 and is headquartered in Maynard, Massachusetts, USA. Monster has 26 local language and content sites in 24 countries worldwide. Monster is known for connecting quality job seekers at all levels with leading employers across all industries and offers employers innovative technology and superior services that give them more control over the recruiting process. 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://recruiter.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.
Monster Worldwide, Inc. Europe: Kai Deininger, +49 172 679 1900 kai.deininger@monster.com or United States: David Rosa, +1 (212) 351-7067 david.rosa@monsterworldwide.com
