Monster Employment Index Rises Three Points in May, with Military, Agriculture and Management of Companies Seeing Strongest Growth; Index Shows Steady Growth in U.S. Online Job Demand Heading into Summer Months
NEW YORK--(BUSINESS WIRE)--June 2, 2005--Monster Worldwide (NASDAQ: MNST)
May 2005 Index Highlights:
- Index at new, all-time high of 134; up significantly from a year ago
- Management of companies & enterprises and agriculture, forestry, fishing & hunting lead industries with greatest month-to-month increases in demand
- Rising consumer need for social services and child care resulted in increased demand for workers in social and community services, healthcare and social assistance
- Military recruitment activity saw strongest surge in occupational demand in May
The Monster Employment Index increased in May to a record high, indicating continued, steady growth in U.S. online job demand and online job recruitment activity. The overall Index rose three points from 131 in April 2005 to 134 in May, the highest level since the Index's inception and a full 29 points above its May 2004 level of 105. The Index's overall results for the past 13 months are as follows:May Apr. Mar. Feb. Jan. Dec. Nov. Oct. Sept. Aug. Jul. Jun. May 05 05 05 05 05 04 04 04 04 04 04 04 04 ---------------------------------------------------------------------- 134 131 130 122 120 113 117 114 114 112 107 108 105 ----------------------------------------------------------------------
"The May findings of the Monster Employment Index further extend the overall upward growth trend in online job recruitment activity seen through the first five months of 2005 and point to enhanced levels of online job availability across nearly all industries and most of the country's geographic regions," said Jeff Taylor, Founder and Chief Monster. "It's also interesting to note that because the Index measures online job opportunities for position openings that typically take 30 to 60 days to fill, other economic indicators have just recently begun to echo the positive labor market momentum the Index has been tracking since January."
Management of Companies and Enterprises Shows Increased Demand
Management of companies and enterprises showed the sharpest increase in online job availability among industries during the month of May, due in part to the continuing trend of American consumers taking increased control of their fiscal planning, and more and more holding companies further diversifying their portfolios with new complimentary services. Overall, online job demand for workers rose in 17 of 20 industries during May, including:
- Agriculture, Forestry, Fishing & Hunting, which showed strong growth in May as a result of the U.S. further expanding its exports to foreign markets, such as recent agreements to send large shipments of rice to Iraq and beef to Taiwan;
- Utilities, which showed strong growth in May due in part to seasonality marked by warmer U.S. climate conditions, and an increased number of outdoor maintenance projects initiated in preparation for summer; and
- Health Care & Social Assistance, which has seen steady growth over the past six months due to additional demand for staff at nonprofits, an increasing number of elderly seeking healthcare and more people in need of social services, child care, food, and other necessities.
Online Demand for Military Occupations Shows Continued Strength
Military-related positions were among the occupations that represented the strongest increase in online demand during the month of May. Partially contributing to the rise was the U.S. military's stepped-up recruiting efforts to keep pace with its heavy personnel need to support efforts in Iraq. Overall online demand for workers rose in 20 of 24 occupational categories last month, indicating increased online job availability across a wide range of positions. Occupations registering significant increases during the month included:
- Management, which has experienced a strong six-month growth trend as the aging baby-boomer population continues to move into senior management positions;
- Business & Financial Operations, which has shown steady increases over the past year as businesses continue to expand in smaller cities that offer commercial incentives such as lower taxes and inexpensive labor pools; and
- Community & Social Services, which continued a five-month growth expansion and saw a sizeable rise last month due to the increasing number of people in need of social services and child care.
Online Job Demand Rises Across All U.S. Regions in May
Online job demand for workers increased in all nine U.S. Census Bureau regions in May, led by the Mountain region, which registered the greatest month-to-month increase. All regions remained at very high levels when compared year over year. Forty-four U.S. states, along with the District of Columbia, registered increases during the past month, with Louisiana, Colorado, Utah and Kansas among those seeing the sharpest gains. Only five states, Hawaii, Michigan, Nebraska, New Mexico and Wyoming, saw declines in May.
To obtain a full copy of the Monster Employment Index report for May 2005, including all charts and tables, please visit http://eIndex.monsterworldwide.com. The first in a series of new Monster Employment Index quarterly reports, which provides an overview of hiring trends for the first three months of 2005, is also available. Data for the month of June 2005 will be released on July 7, 2005.
About the Monster Employment Index
Launched in May 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 property, 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, a Cranford, New Jersey-based provider of innovative click and brick market research solutions. The audit validates the accuracy of the online job recruitment activity measured for the last six months within a margin of error of +/- 1.05%. Data for the month of May 2005 will be released on June 2, 2005.
About Monster Worldwide
Founded in 1967, Monster Worldwide, Inc. is the parent company of Monster(R), the leading global online careers property. The company also owns TMP Worldwide, one of the world's largest Recruitment Advertising agency networks. Headquartered in New York with approximately 4,500 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.
Monster is the leading global online careers property. 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 25 local language and content sites in 23 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://recruiter.monster.com.
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SOURCE: Monster Worldwide, Inc.