Monster Worldwide to Introduce Comprehensive Monthly Snapshot of U.S. Online Job Demand
NEW YORK--(BUSINESS WIRE)--March 4, 2004-- Monster Worldwide, Inc. (NASDAQ: MNST), the parent company of the leading global online careers property, Monster(R), today announced plans to provide a comprehensive monthly snapshot of U.S. online recruitment activity. Debuting next month, the Monster Employment Index will provide U.S. labor market watchers with a broad analysis of the demand for jobs online. Monthly findings will be based on job posting data collected from Monster and more than 1,500 carefully selected Web sites, believed to be representative of employer activity nationwide.
The Monster Employment Index will officially debut on Thursday, April 1, with the release of data for the month of March 2004. Moving forward, the Index will be released on or around the beginning of each month.
"With traditional help wanted advertising continuing to migrate online and nearly every Fortune 500 company now utilizing online recruiting, the Monster Employment Index is uniquely positioned to contribute data that, when combined with other labor statistics, will provide a much more complete view of the U.S. job market," said Andrew J. McKelvey, chairman and chief executive officer of Monster Worldwide. "Given the inherent timeliness of the job posting data we are collecting, we anticipate that labor market watchers will increasingly view the Monster Employment Index and its assessment of online job postings as a key barometer offering valuable insight into broader American labor trends."
Based on an initial six months of data compiled during its beta-testing period, Monster Worldwide believes the Monster Employment Index is poised to become a leading labor market indicator. Thus far, the Index's data has correlated strongly with several other well-established labor market indicators, including the Bureau of Labor Statistics' civilian unemployment rate.
Utilizing a team of researchers, the Monster Employment Index uses a consistent methodology to track monthly U.S. job posting activity from Monster and more than 1,500 Web sites representing millions of employer postings in key employment sectors. Job postings are online advertisements placed by an employer looking to fill one or more vacant, or recently created, job positions. The Monster Employment Index counts postings as an indicator of demand for employees.
In addition to generating broad national findings, the Index will offer sub-indices by industry, occupation and geographic region, including data on 20 different industries and 23 occupational categories.
All of the data and findings in the Monster Employment Index are validated for accuracy through 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.
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, the world's largest Yellow Pages advertising agency and one of the world's largest Recruitment Advertising agency networks. TMP Worldwide is also a provider of direct marketing services. Headquartered in New York with approximately 4,300 employees in 19 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.
Founded in 1994 and headquartered in Maynard, Mass., Monster is the leading global careers website, recording over 52.5 million visits during the month of January 2004, according to independent research conducted by I/PRO. Monster connects the most progressive companies with the most qualified career-minded individuals, offering innovative technology and superior services that give them more control over the recruiting process. The Monster global network consists of local content and language sites in the United States, United Kingdom, Canada, the Netherlands, Belgium, Singapore, Hong Kong, France, Scotland, Germany, Ireland, Spain, Luxembourg, India, Italy, Sweden, Norway, Denmark, Switzerland, and Finland. Monster is the official online career management services sponsor of the 2004 U.S. Olympic Team. More information about Monster is available at http://www.monster.com/or by calling 1-800-MONSTER.
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.