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U.S. Online Job Demand Dips Slightly in September, According to Monster Employment Index; Findings Reflect Initial Impact of Hurricane Katrina, as Online Job Availability in West South Central Region Plunges
NEW YORK--(BUSINESS WIRE)--Oct. 6, 2005--
September 2005 Index Highlights:
- Index dips two points to 140 in September, with most U.S. regions, states and occupations showing slight declines
- Index still near all-time high and up dramatically compared to year-ago level of 114
- Construction continues rapid pace of growth, up 18 points in September and 72 points year-over-year
- Online demand for military occupations declines, ending four-month growth trend
- Manufacturing industry falls for fifth consecutive month
The Monster Employment Index dipped slightly in September, as the majority of U.S. regions, states and occupations tracked by the Index showed varying declines in online job availability. The Index eased back two points from 142 in August to 140 in September, suggesting a slight pullback just one month after jumping eight points to an all-time high. While the initial impact of Hurricane Katrina led to sharply reduced online job availability in the West South Central Region, which includes Louisiana, Arkansas and Texas, nationwide concern over the hurricanes' economic impact and rising oil prices likely contributed to a more cautious outlook among employers. Nevertheless, the Index remained well above its September 2004 level of 114.
The Index's overall results for the past 13 months are as follows: ---------------------------------------------------------------------- Sept. Aug. Jul. Jun. May Apr. Mar. Feb. Jan. Dec. Nov. Oct. Sept. 05 05 05 05 05 05 05 05 05 04 04 04 04 ---------------------------------------------------------------------- 140 142 134 136 134 131 130 122 120 113 117 114 114 ----------------------------------------------------------------------"Despite the slight decline in online recruitment activity in September, a number of key industries continued to show growth during the month, including construction, retail trade and public administration, which all registered sharp gains," said Steve Pogorzelski, Group President, International at Monster Worldwide. "The Index's September findings clearly show the immediate impact of Hurricane Katrina on the Gulf region's labor market, and in the months ahead we should have better insight into the disaster's broader impact. Eventually, the rebuilding effort in the Gulf area should start to generate significant job-growth in the region, since past natural disasters have, over time, contributed to strong, long-term job creation."
Construction Continues to Lead Industries with Strong Growth in Online Job Demand
Online recruitment activity within the construction industry surged again in September, continuing an eleven-month growth trend. Demand for architects, engineers and project managers soared as the booming U.S. residential housing sector showed little sign of cooling and reconstruction efforts in hurricane-stricken areas intensified.
Despite the slight reduction in overall online job availability in September, a number of industries showed increased online job demand. Ten out of the 20 industries tracked by the Monster Employment Index saw greater online job availability during the month, including:
- Retail trade, which showed a particularly strong increase, as retailers are beginning to staff up for the coming holiday season;
- Public administration, which continued a three-month growth trend and registered a particularly large spike in September, most likely due to an increase in online demand for relief and aid workers in the wake of Katrina; and
- Mining, which saw significant increased demand, in the wake of rising oil prices, for trained workers in natural resource mining and drilling.
In contrast, online job demand within the manufacturing industry declined for the fifth straight month, reflecting continued weakness in the sector due to rising energy costs, strong productivity growth and international competition.
Online Demand for Military Positions Declines, Ending Four-Month Growth Trend
Eighteen of 23 occupational categories registered declines of varying degrees during the month of September, with online demand for military occupations falling for the first time after four consecutive months of growth. Online demand for education, training and library positions also declined in September after surging in August as schools wrapped up last-minute recruiting for the start of the academic year. Other occupations showing slight declines during the month included healthcare support; legal; farming, fishing, and forestry; and production.
Demand for personal care and service occupations increased in September, showing the strongest month-to-month increase. Other occupations showing increased online job availability during the month included:
- Business and financial operations, which showed continued demand for accounting and finance personnel to support expansion plans; and
- Architecture and engineering, which extended a nine-month upward trend reflecting the growing number of job opportunities for those with science, engineering and technical training.
West South Central Region Sees Sharp Decline in Online Job Availability in September
The West South Central region saw the largest decline in online job demand during the month of September, reflecting the severe disruptions to the labor market in Louisiana, Arkansas and Southern Texas due to the effects of Hurricane Katrina. Online job demand for workers declined in seven of the nine U.S. Census Bureau regions in September, although all regions remained at very high levels when compared year-over-year.
Just thirteen U.S. states, along with the District of Columbia, registered increases in September, with Washington, D.C., Wyoming, Arkansas and Vermont among those seeing the sharpest gains. Thirty-two states declined during the month, while six states remained unchanged from August.
To obtain a full copy of the Monster Employment Index report for September 2005, including all charts and tables, please visit http://eIndex.monsterworldwide.com. Data for the month of October 2005 will be released on November 3, 2005.
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, 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 October 2005 will be released on November 3, 2005.
About Monster Worldwide
Founded in 1967, Monster Worldwide, Inc. is the parent company of Monster(R), the leading global online careers and recruitment resource. 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(R) is a leading global online careers and recruitment resource. Monster was founded in 1994 and is headquartered in Maynard, Massachusetts, USA. Monster has 25 local language and content sites in 23 countries worldwide. Monster is known for connecting quality job seekers at all levels with leading employers across all industries and offers employers innovative technology and superior services that give them more control over the recruiting process. 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.
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, July 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
Robert Burke, 212-351-7014
robert.burke@monsterworldwide.com
or
Media Inquiries:
Andy Rohr, 617-520-7030
arohr@webershandwick.com
or
Weber Shandwick
Lauren McDonald, 617-520-7116
lmcdonald@webershandwick.com
SOURCE: Monster Worldwide, Inc.
