United States Department of Labor and Monster.com Announce Online Partnership
The Leading Public and Private Sector Experts on Employment Team Up to Assist the American Workforce
WASHINGTON--(BUSINESS WIRE)--June 28, 2001--The United States Department of Labor (DOL) and Monster.com(R), the leading global online careers site and flagship brand of TMP Worldwide Inc. (NASDAQ: TMPW), today announced the details of an ongoing partnership that will examine and analyze workforce trends and statistics. The highlights of this landmark partnership are the sharing of aggregate data on employment trends, and the development of a global standard to classify jobs and the skills that are required to succeed in those occupations.
U.S. Secretary of Labor Elaine L. Chao and CEO and founder of Monster.com Jeff Taylor unveiled the relationship last Wednesday, June 20th during the Department of Labor's 21st Century Workforce Summit. "America needs a wake-up call about its workforce," Chao told summit participants at Washington, D.C.'s MCI Center. "There will be huge economic consequences if we don't address demographic changes in the workforce and technological changes in the workplace."
With over 16 million job seeker accounts, a resume database of more than 11 million resumes, and over 400,000 job postings from over 100,000 employers, Monster.com contains a wealth of employer and workforce data in its servers. The Labor Department's Bureau of Labor Statistics, and America's Job Bank also host vast amounts of employment and labor information. Together, these two large data sources will generate invaluable real-time labor market information. While sharing data, the DOL and Monster will maintain the integrity and privacy of the individuals and companies that have posted information to the websites. The DOL and Monster will develop and distribute indexes based on the results of the data sharing relative to the skills gap, changing demographics, future opportunities of the American workforce, and other important labor statistics.
Additionally, the DOL and Monster.com will drive a global standard to describe jobs. Monster.com will enhance, adopt, and use the Standard Occupational Classification (SOC), which is the government's current system for classifying jobs. This will enable Monster.com to analyze workforce trends on a job-by-job basis with the DOL, and through Monster.com's global network, the SOC will be translated and localized for use in the 16 countries where Monster currently operates.
Monster and DOL research and development teams have been actively working together to implement the new measures. With the new standards and use of the DOL's database for describing occupations, O*Net, Monster will be able to determine what occupations share similar skills, what skills are required for certain jobs, and how to obtain those skills. The job trends and skills information will be shared with job seekers, employers, and learning providers.
"The results of sharing knowledge and exchanging data between the Department of Labor and Monster.com will benefit the men and women of the American workforce, as well as employers of all sizes," said Jeff Taylor. "The ongoing analysis that we develop from our databases on the state of the economy, labor markets, and other workforce trends will serve as an important empowering resource for job seekers in all stages of career development. Additionally, employers will be able to address the skills their workers require, while learning providers will be able to tailor their courses to address the current workforce's needs."
Monster.com, headquartered in Maynard, Mass., is the leading global careers website, recording over 26.9 million unique visits during the month of May 2001 according to independent research conducted by I/PRO. Monster.com 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.com global network consists of local content and language sites in the United States, United Kingdom, Australia, Canada, the Netherlands, Belgium, New Zealand, Singapore, Hong Kong, France, Germany, Ireland, Spain, Luxembourg, India, and Italy. More information about Monster.com is available at www.monster.com or by calling 1-800-MONSTER.
About TMP Worldwide
Founded in 1967, TMP Worldwide Inc., with more than 9,500 employees in 32 countries, is the online recruitment leader, the world's largest Recruitment Advertising agency network, and one of the world's largest Executive Search and Executive Selection agencies. TMP Worldwide, headquartered in New York, is also the world's largest Yellow Pages advertising agency and a provider of direct marketing services. The company's clients include more than 90 of the Fortune 100 and more than 480 of the Fortune 500 companies. In June 2001, TMP Worldwide was added to the S&P 500 Index. More information about TMP Worldwide is available at www.tmp.com.
Special Note: The above statements include forward-looking statements based on current management expectations. Factors that could cause future results to differ from these expectations include the following: risks associated with acquisitions, competition and seasonality. Additional factors are described in the company's reports filed with the Securities and Exchange Commission.
--30--af/bos*CONTACT: Monster.com Dean Rosingana 978-461-8034 firstname.lastname@example.org or Department of Labor Michael Shields 202-693-4657 email@example.com