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Mar 6, 2008: Monster Employment Index Shows Moderate Rise in February
NEW YORK--(BUSINESS WIRE)--March 6, 2008--The Monster Employment Index rose five points in February, reflecting a moderate increase in overall U.S. online job availability following a three-month downward trend. The Monster Employment Index is based on a real-time review of millions of employer job opportunities culled from a large, representative selection of corporate career sites and job boards, including Monster(R).
During February, a majority of industry and occupational categories tracked showed greater online job demand compared to the previous month, with 18 of 20 industries and 17 of 23 occupations registering gains. Index results for the past 13 months are as follows:
Feb. Jan. Dec. Nov. Oct. Sept.Aug. Jul. Jun. May Apr. Mar. Feb. 08 08 07 07 07 07 07 07 07 07 07 07 07 ---------------------------------------------------------------------- 165 160 169 183 188 186 186 183 186 189 186 185 177 ----------------------------------------------------------------------"While the Monster Employment Index's five-point rise in February is relatively modest compared to prior years, it's an encouraging sign of stabilization after three consecutive months of decline," said Jesse Harriott, Vice President of Research at Monster Worldwide. "Nevertheless, the Index remains a full seven percent below its year-ago level, indicating further deceleration in online recruitment activity due to the U.S. economic slowdown."
Online Demand in Agriculture, Government and Education Industry Sectors Register Largest Increases in February
Agriculture, forestry, fishing and hunting registered the largest gain in online job demand among industries in February, reflecting seasonal trends. While historical Index data shows that demand for agricultural jobs is typically higher this time of year, the increase in February was comparatively substantial. Online demand in public administration also jumped sharply, fueled by greater demand for workers in both local and federal government. The educational services industry rose as well, as did the real estate and rental and leasing industry, which registered its first increase in seven months. The arts, entertainment, and recreation industry was the only category that declined last month, extending a five-month downward trend.
Year-over-year, online job availability improved in four industry categories, with public administration; and agriculture, forestry, fishing and hunting registering the largest year-over-year growth. Public administration is now up 43 percent over the year and stands as the Index's top growth industry on an annual basis. Online demand in the wholesale trade and transportation and warehousing industries remained above year-ago levels, indicating sustained high demand in these sectors. By contrast, deceleration in online hiring in the retail trade industry continued as the category reported the largest annual decline on record, mirroring indications of waning consumer confidence and spending.
Farming, Fishing and Forestry, Production and Building, Grounds Cleaning and Maintenance Occupations Register Largest Gains in February
Online demand for farming, fishing and forestry occupations registered the largest increase in February, potentially fueled by an overall lack of workers that is plaguing the booming farming sector, which has seen record-high crop prices. Production, as well as building, grounds cleaning and maintenance, also reported large gains. Online demand for food preparation and serving related occupations rose for the first time in seven months, while personal care and service saw the largest decrease in online job recruitment activity in February. Other service related categories also fell, including healthcare support and protective services.
Year-over-year, only four occupational categories are showing higher demand compared to 2007. Aside from the farming, fishing, and forestry category, which is up 38 percent year-over-year, online demand for healthcare related occupations remains the top growth area, with both healthcare support and healthcare practitioners and technical maintaining solid growth trends. In contrast, online demand for protective service occupations has slowed dramatically from last year's pace and is down 24 percent over the year.
Online Job Availability Rises in all Nine U.S. Census Bureau Regions in February
During February, online job availability increased across all nine U.S. Census Bureau regions, with the East North Central region showing the strongest gain, followed closely by the West North Central and West South Central regions. Online demand in the Pacific region remained weak, showing on a marginal one-point gain last month and reflecting a sharp drop in opportunities in California.
Year-over-year, the West South Central region remains the top growth region with a six percent rise, while the Pacific region is the weakest, down 14 percent from a year ago. Online job demand rose in 39 of the 50 states and the District of Columbia in February.
Online Job Availability Rises in all 28 Major U.S. Metro Markets in February
During February, online recruitment activity rose in all of the 28 U.S. metro areas monitored by the Index, with Kansas City showing the largest increase, fueled by higher demand for professional service occupations such legal; and life, physical and social science. Detroit saw its first increase in four months, mostly due to a rebound in hiring for production occupations and continued strong demand for installation, maintenance, and repair workers. Baltimore and Miami also registered modest gains.
On an annual basis, 11 of the 28 markets are now showing increased online job availability compared to a year ago. Pittsburgh is now the top growth market year-over-year, driven by increased demand for education and healthcare services. Houston, last month's top growth market, saw continued strong demand in healthcare, food services and management. In contrast, Baltimore, Washington, D.C., and Los Angeles have registered the sharpest declines over the past 12 months.
To obtain a full copy of the Monster Employment Index report for February 2008, 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 March 2008 will be released on April 3, 2008.
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 millions 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, the premier global online employment solution for more than a decade, strives to inspire people to improve 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.
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: General Information: Monster Worldwide Kathryn Burns, 212-351-7063 kathryn.burns@monsterworldwide.com or Media Inquiries: Weber Shandwick Andy Rohr, 617-520-7030 arohr@webershandwick.com SOURCE: Monster Worldwide, Inc.
