Monster Employment Index Rises Sharply in February

  • February 2010 Index Highlights: Index rises by ten points in February, as employers resume recruitment activity following January's seasonal lull
  • Year-on-year growth rate now up a positive 2 percent, with online demand rising above year-earlier levels
  • Offerings in information; professional, scientific, and technical services rise, while utilities and retail decline
  • Online job demand rises in all of the 28 major metro markets monitored by the Index, with Detroit showing strongest monthly gain

NEW YORK, Mar 04, 2010 (BUSINESS WIRE) -- The Monster Employment Index rose by ten points in February, as employers resumed hiring activity after January's seasonal lull. The long-term growth rate turned positive, with the Index up 2 percent year-on-year, for the first time since December 2007 suggesting some improvement in the underlying demand for labor.

The Monster Employment Index is a monthly gauge of U.S. online job demand based on a real-time review of millions of employer job opportunities culled from a large representative selection of corporate career Web sites and job boards, including Monster.com(R).

During February, online job availability rose in 15 of the Index's 20 industry sectors and in 19 of the 23 occupational categories monitored. Index results for the past 13 months are as follows:

Feb.

10

 Jan.

10

 Dec.

09

 Nov.

09

 Oct.

09

 Sep.

09

Aug.
09

Jul.
09

 Jun.

09

 May.

09

 Apr.

09

 Mar.

09

 Feb.

09

124 114 115 119 120 119 121 114 117 118 120 118 122

"Although some of the increase in the February Index can be attributed to seasonality, a rise in hiring for sectors like manufacturing, transportation and wholesale trade offers an encouraging sign of increased investment and business activity," said Jesse Harriott, senior vice president and chief knowledge officer at Monster Worldwide. "The fact that we are seeing a year-over-year increase in the Index may be an early indication that companies are stepping up recruiting efforts and will begin hiring again"

Information Registers Large Monthly Gain in Online Job Demand in February; Arts and Entertainment; Retail Trade Edge Down

Information led all industries with a 13-point gain in February and is now at its highest level since December 2008, driven primarily by strong job posting growth for functions like telecommunications and media distribution.

Meanwhile, the finance and insurance industry saw a similar uptrend with a 6-point rise, but remains down on a year-over-year basis. Professional, scientific, and technical services also registered an increase in February as sectors resumed hiring activity following a relatively slow 6-month period. Similarly, wholesale trade; and transportation and warehousing stepped up online recruitment in February, as reports indicating that companies were replenishing inventories nationwide, lifted demand in manufacturing and associated sectors.

In contrast, arts, entertainment, and recreation; and retail trade saw a seasonal decline in online job demand with employers limiting hiring activity until the start of spring.

On an annual basis, mining; educational services; and information show greater online job availability compared to a year ago, while utilities and construction decline on an annual basis in February.

Legal; and Community and Social Services Occupations See Increases in Online Job Availability in February; Education; and Protective Service Fall

In February, online hiring demand rose in 19 of the 23 occupational categories monitored by the Index. Architecture and engineering; life, physical, and social sciences; computer and mathematical; and legal posted large monthly gains as reflected by the rise in the professional, scientific, and technical services industry as a whole.

Meanwhile, business and financial operations also rose and exhibited a more robust long-term trend, suggesting that despite the somewhat slow revival in online recruitment activity by banks and other financial institutions, accountants and financial specialists are seeing increased demand from other sectors across the economy.

In contrast, online demand for occupations related to education, protective service and farming dipped in February.

Sales and related led all occupational categories in terms of year-over-year growth with a 13 percent annual rise in opportunities. Business and financial; transportation; and production occupations also reported more online job offerings than a year ago.

Online Job Availability Rises All U.S. Census Bureau Region in February

During February, demand rose in all nine U.S. Census Bureau regions with West South Central registering the largest monthly gain, climbing 25 points. Mountain also noted a modest rise. Meanwhile, all regions showed a net increase in online job demand over a three-month period. On an annual basis, East South Central has the highest online job availability compared to a year ago.

All 50 states and the District increased online job opportunities in February led by Nebraska, while Oregon experienced the mildest rise. Mississippi led all states in terms of year-over-year growth, followed by Michigan and Indiana.

All of the Top 28 Major U.S. Metro Markets Register Increases in February

During February, online recruitment activity rose in all major metropolitan markets, with Detroit registering the sharpest gain. Online job demand also increased in San Diego and Houston mainly driven by heightened demand for management; and office and administrative support occupations.

On a year-over-year basis, 14 of the 28 markets reported positive growth, while four remained flat. Portland and Orlando noted the most substantial gains in online demand on the year, while Washington, DC exhibited the steepest annual decline.

To obtain a full copy of the Monster Employment Index report for February 2010, and to access current individual data charts for each of the 28 metro markets tracked, please visit http://about-monster.com/employment-index. Data for the month of March 2010 will be released on April 1, 2010.

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 periodically 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. (NYSE: MWW), parent company of Monster(R), the premier global online employment solution for more than a decade, strives to bring people together to advance 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. To learn more about Monster's industry-leading products and services, visit http://www.monster.com. More information about Monster Worldwide is available at http://about-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, 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. 

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