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Monster Employment Index Holds Steady in October
NEW YORK--(BUSINESS WIRE)--Nov. 2, 2006--The Monster Employment Index remained unchanged in October, holding at a level of 172 and demonstrating continued stability in overall U.S. online demand during the outset of the fourth quarter.
The overall Index was partly weighed down last month by further moderating online recruitment activity in industries and occupations related to the housing and construction markets, and previously high-performing white-collar occupations such as management, legal, finance and accounting. Nevertheless, online job demand continued to rise in other parts of the economy, most notably in energy, mining and utilities, within the healthcare sector and among security and military-related positions. Professional and technical services such as IT, design, software, advertising and marketing also exhibited strong online job availability, with computer and mathematical occupations showing 33% year-over-year growth and suggesting continued high demand for qualified technology workers.
While still 29 points higher year-over-year and showing marked improvement compared to last October, the Index recorded its lowest annual growth rate (20.3%) since its inception in October 2003, reflecting an overall slowdown in economic and payroll growth during the third quarter.
Monster Employment Index results for the past 13 months are as follows:
Oct. Sept. Aug. Jul. Jun. May Apr. Mar. Feb. Jan. Dec. Nov. Oct. 06 06 06 06 06 06 06 06 06 06 05 05 05 ---------------------------------------------------------------------- 172 172 173 165 171 167 163 164 157 151 145 149 143 ----------------------------------------------------------------------"While the October findings of the Monster Employment Index are consistent with other economic indicators that show a slowing down from the rapid pace of economic growth during the first half of 2006, the fact that unemployment rates across the country are at five-year lows suggests little slack in the overall U.S. labor market," said Steve Pogorzelski, Group President, International at Monster Worldwide. "In fact, there are numerous industries where robust expansion and existing labor shortages continue to spur demand for workers, particularly in areas such as advertising/marketing, IT/engineering, healthcare, defense/security and utilities."
Mining; Utilities; and Professional, Scientific and Technical Industry Sectors See Higher Demand for Workers in October
During October, eight of the 20 industry categories tracked by the Index showed greater online demand for workers, led by utilities, which surged 14 points and registered the strongest month-to-month increase. Mining also edged up for the third consecutive month, rising four points. The growth of opportunities in these sectors reflects the increased investment in oil and gas technology, as well as renewed focus on sustainable energy sources, which have driven up demand for skilled workers. Online job availability in the professional, scientific and technical services sector also rose, adding three points and extending a three-month growth trend.
In contrast, online recruitment activity in the wholesale trade sector plunged 13 points, registering the sharpest decline among industries, while demand in transportation and warehousing fell 10 points, following a sharp rise the previous month. At the same time, online demand in the retail trade industry edged one point higher, extending a three-month upward trend in a likely build-up ahead of the end-of-the-year shopping season. Meanwhile, online opportunities in real estate, rental and leasing edged down one point last month and have declined over the year as the cooling housing market appears to have gradually reduced overall staffing needs in the sector.
Military Specific; IT; Arts, Design, Entertainment, Sports and Media Occupations Maintain Steady Growth Pace in October
Twelve of the 23 occupational categories tracked by the Index showed a rise in online job availability in October, with military specific occupations jumping 21 points and registering the strongest monthly rate of increase. Last month's rise was mostly due to heightened demand in the armed services and the aerospace industry, which has recently benefited from a significant surge in bookings for commercial aircraft. Online job availability for computer and mathematical occupations jumped seven points, extending a three-month growth trend amid continued strong demand for IT professionals across the country. Meanwhile, the Index for arts, design, entertainment, sports and media occupations rose six points, and community and social services surged 13 points, continuing a three-month upward trend. Sales related opportunities also edged up, suggesting that retailers may have begun seeking temporary workers to assist with the approaching holiday shopping season.
Among the Index categories showing lower online job demand in October, building, grounds cleaning and maintenance and legal registered the sharpest decline, as both shed 10 points. The education, training and library category also declined, falling seven points and easing back from heightened demand leading up to the start of the school year.
Five of Nine U.S. Census Bureau Regions Register Increased Online Recruitment Activity in October
Online recruitment activity increased in five of nine U.S. Census Bureau regions in October, led by the West South Central region (up four points), which continued to show the strongest year-over-year growth rate due in part to ongoing reconstruction efforts in Louisiana. The East South Central region registered the sharpest decline, falling nine points amid reduced online job availability in Alabama and Mississippi. Alabama's manufacturing industries have reportedly been suffering a downturn, while Mississippi continues to struggle with the nation's highest unemployment rate and a coastal economy that has yet to recover from the devastation caused by Hurricane Katrina last year. Overall, 24 U.S. states saw online job availability climb by varying degrees in October.
To obtain a full copy of the Monster Employment Index report for October 2006, including all charts and tables, please visit http://www.monsterworldwide.com/Press_Room/MEI.html. Data for the month of November 2006 will be released on December 7, 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 4,600 employees in 35 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.
About Monster
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.
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.
CONTACT: Monster Worldwide Kathryn Burns, 212-351-7063 kathryn.burns@monsterworldwide.com or Weber Shandwick Christian Harper, 212-445-8135 charper@webershandwick.com or Lauren McDonald, 617-520-7116 lmcdonald@webershandwick.com SOURCE: Monster Worldwide, Inc.
