Online Recruitment in Transportation and Warehousing Industry
Surges Amid Falling Gas Prices and Higher Demand for Parcel Services
Workers November 2006 Index Highlights: -- Increased online job opportunities in protective service and military specific occupations demonstrate sustained demand for workers in public safety, security and defense functions -- Online job availability in life, physical, and social science occupations rises for fourth consecutive month amid higher demand for researchers and scientists -- Recruitment in real estate, rental and leasing industry retracts as housing sector slowdown continues, also contributing to reduced online job availability for installation, maintenance, and repair workers -- Online demand for workers in Northeast region extends promising growth trend while opportunities in recently booming Mountain region dipNEW YORK--(BUSINESS WIRE)--Dec. 7, 2006--The Monster Employment Index rose three points to a level of 175 in November, demonstrating stepped-up U.S. online recruitment activity as employers increased their year-end and holiday season hiring efforts. Climbing to its highest reading since its inception in October 2003, the Index is now showing year-over-year growth of 26 points.
"November's rise was the Monster Employment Index's largest gain in three months, and reflects a broad seasonal pattern of increased online recruitment efforts among employers seeking to fill annual hiring quotas and add temporary resources in preparation for the holidays," said Steve Pogorzelski, Group President, International at Monster Worldwide. "However, lower gas prices, a recovering airline industry, and soaring imports from East Asia also contributed to the boost in demand for workers in industries such as transportation and warehousing, which saw the biggest spike in online job availability among industry groups."
The overall Index rose last month primarily due to increased online recruitment activity in industries and occupations closely related to the holiday season, as employers in the transportation, shipping and warehousing industries began adjusting staffing levels. Although the cooling U.S. housing market continued to negatively impact recruitment activity in a number of industries, particularly in the real estate, rental and leasing industry, recruitment in the construction industry edged higher for the fourth consecutive month amid expanded commercial construction projects. Meanwhile, online recruitment for life, physical and social science occupations also rose for the fourth consecutive month amid higher demand for researchers and other scientists in both the pharmaceutical and high tech industries.
Monster Employment Index results for the past 13 months are as follows:
Nov. Oct. Sept. Aug. Jul. Jun. May Apr. Mar. Feb. Jan. Dec. Nov. 06 06 06 06 06 06 06 06 06 06 06 05 05 ---------------------------------------------------------------------- 175 172 172 173 165 171 167 163 164 157 151 145 149 ----------------------------------------------------------------------On a year-over-year basis, the Monster Employment Index is now showing growth of 17.4 percent - the Index's lowest annual growth rate since its inception.
"The year-over-year ease-up in online recruitment activity across the more than 1,500 Web sites tracked by the Index is clearly in line with other indicators showing a broader U.S. economic slowdown in the second half of 2006," added Pogorzelski. "However, it's important to note that activity measured by the Index in November 2005 was exceptionally strong due to post-Hurricane Katrina reconstruction efforts. In fact, that month saw the strongest monthly payroll gain since March of 2000."
Transportation and Warehousing; Construction; and Utilities Industry Sectors See Higher Demand for Workers in November
While only five of the 20 industry sectors tracked by the Monster Employment Index showed an increase in online recruitment activity during November, the gains served to offset mostly mild-to-moderate declines in other sectors. Transportation and warehousing registered the largest rate of increase last month, jumping 10 points and rebounding strongly from a sharp decline in October. The rise was mostly due to stepped-up recruiting activities among shipping and parcel companies in advance of the busy holiday shopping, entertainment and travel season. Meanwhile, online recruitment in the construction industry rose seven points, reflecting continued strength in non-residential and non-building construction projects, such as those related to public works construction, which has helped pick up the slack from the slowing residential housing market. Online demand for skilled utility workers also edged up in November, adding three points on top of a significant jump in October and further demonstrating the country's strong focus on sustainable energy sources.
In contrast, online recruitment activity in the real estate, rental and leasing industry declined for the third straight month, falling eight points on lower demand for real estate workers within the rapidly cooling housing market. Online opportunities in the accommodations and food services industry also declined, shedding four points but remaining the sector with the highest annual rate of increase among industries tracked by the Index.
Protective Service; Military Specific; Life, Physical and Social Science Occupations Maintain Upward Growth Trend in November
Eleven of the 23 occupational categories tracked by the Index showed a rise in online job availability in November, with protective service occupations jumping nine points due to higher demand for public and private sector security personnel. Military specific occupations also continued to see greater online job availability, surging nine points, as extended operations in Iraq and the looming need to upgrade military equipment, along with an improved airline industry, continued to create unprecedented orders for the aerospace industry.
Online recruitment for researchers, college professors and other science-related occupations rose seven points in November, reflecting a gradual build up in demand for professionals with a high level of formal education. Biotech and pharmaceutical companies, which continue to grow at a fast pace, also were drivers in this category. Online demand for IT professionals in the high tech industry and alternative energy researchers also remained elevated. In contrast, installation, maintenance and repair occupations plummeted 15 points, further reflecting the impact of the slumping housing market.
Seven of Nine U.S. Census Bureau Regions Register Varying Degrees of Growth in Online Recruitment Activity in November
Online recruitment activity increased in seven of nine U.S. Census Bureau regions in November, led by the Northeastern area of the country, showing solid growth in both the New England and Mid-Atlantic regions, as each increased three points. Additionally, online job demand rose in the West North Central region for the third consecutive month, establishing it as the second-fastest growing on a year-over-year basis, largely due to accelerated recruitment activity in Kansas and Nebraska. The West South Central remains the top region in year-over-year growth. Meanwhile, the Mountain region declined for the second consecutive month, falling three points; with all eight states in the region, except Utah, showing fewer online job opportunities amid reports that region is beginning to feel the impact the cooling housing market. Of the 50 states and the District of Columbia, 34 increased, while 13 declined and four remained flat. Kansas and Louisiana both registered double-digit growth in November, with help from continued high exposure to expanding industries such as mining, energy and natural resources.
To obtain a full copy of the Monster Employment Index report for November 2006, including all charts and tables, please visit http://www.monsterworldwide.com/Press_Room/MEI.html [1]. Data for the month of December 2006 will be released on January 4, 2007.
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. 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(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 and the NASDAQ 100. To learn more about Monster's industry-leading products and services, visit www.monster.com [2]. More information about Monster Worldwide is available at www.monsterworldwide.com [3].
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CONTACT: General Information: Monster Worldwide Kathryn Burns, 212-351-7063 kathryn.burns@monsterworldwide.com [4] or Media Inquiries: Weber Shandwick Christian Harper, 212-445-8135 charper@webershandwick.com [5] or Lauren McDonald, 617-520-7116 lmcdonald@webershandwick.com [6] SOURCE: Monster Worldwide, Inc.